Question 1138518
if the car costs 14,000 and is paid off monthly at an annual rate of 12% compounded monthly, for a period of 5 years, the payment made at the end of each month is equal to $311.42.


the financial calculator used for this analysis can be found at <a href = "https://arachnoid.com/finance/" target = "_blank">https://arachnoid.com/finance/</a>


the inputs to this calculator were:


prevent value = 14000
future value = 0
number of monthly time periods = 5 * 12 = 60
percent interest rate per monthly time period = 12% / 12 = 1%
payments are made at the end of each monthly time period.


click on PMT and the calculator tells you that the monthly payments are $311.42, shown as negative because the money is going out.


<img src = "http://theo.x10hosting.com/2019/040801.jpg" alt="$$$" >