Question 1185062
down payment is 5000
payments are 850 a month for 3 years.
payments are at the end of each month.
interest rate is 9% per year compounded monthly.


the monthly interest rate is 9/12 = .75%
the number of time periods of the loan is 36 months.
the end of each month payment is 850.
you are looking for the present value of the loan.
using the calculator at <a href = "" target = "_blank"></a>, the present value of the loan is 26,729.78.
add 5000 down payment to that and the price of the car is 31,729.78.


inputs to loan calculator.


<img src = "http://theo.x10hosting.com/2021/092302.jpg" >


output from loan calculator.


<img src = "http://theo.x10hosting.com/2021/092303.jpg" >


this can also be done by formula.
the formula used is in the link.
if you need assistance with how to use the formula, let me know.