The fast way to do it in Excel is to use the PMT function - you need the following
Originally Posted by smashhell
How would it be 300 payment?
Can anyone do some calculation?
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.
2012 535xi M-Sport, Carbon Black, Cinnamon-Alum Hex, Exec Pack, Tech Pack, HUD, Damper Control, BMW Apps, Heated Rear Seats
Last edited by PeterC4; 02-09-2013 at 07:20 PM.