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Old 02-09-2013, 06:18 PM
PeterC4 PeterC4 is offline
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Location: Toronto
 
Join Date: Mar 2011
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Mein Auto: M550ix
Quote:
Originally Posted by smashhell View Post
How would it be 300 payment?
Can anyone do some calculation?
The fast way to do it in Excel is to use the PMT function - you need the following

Monthly interest rate
Number of months
Current Value (Current Purchase Price - net of down payments)
Future Value (Residual Value)

Make sure you enter the Future value as a negative.
You can use the annual interest rate divided by 12 to get to monthly interest rate.
Down payments lower monthly payments, but money is out the door.
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2018 M550xi Black Sapphire

Last edited by PeterC4; 02-09-2013 at 06:20 PM.
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