Monthly car payment calculator

[Guest z_phantm]

does anyone know any apps that does a monthly car payment calculator? I was car shopping and was trying to figure out the monthly payments w/o having the dealer do it for me, it's just a lot easier and less pressure on me. I was wondering if someone would be nice enough to come up w/ an app for this, just like the tip calculator. the formula is:

The formula has a principal, P, interest rate, r, and number of monthly payments, m. ^ means exponent.

P ( r / 12 )

-------------------------

(1 - ( 1 + r / 12 ) )^-36

For example, a 3 year (36 month) loan of $15,000 at 7% interest would look like this:

15000 ( 0.07/ 12 )

------------------------------

(1 - ( 1 + 0.07 / 12 ) )^-36

The payment for this car will be $463.16 per month.

Thanks much again!!!

Edited April 7, 2008 by z_phantm

[Guest ascian]

I'm new to all this, but maybe try searching for a financial calculator program? It's just simple time-value of money stuff. financial calculators or stuff like the TI graphing calculators have the apps normally built in.

Sorry if you're reading this and going "well no s***" I don't know how familiar you are with the calculations and I don't know where to look yet for BJ apps as I just ordered mine today.

[Guest jonnyt822]

does anyone know any apps that does a monthly car payment calculator? I was car shopping and was trying to figure out the monthly payments w/o having the dealer do it for me, it's just a lot easier and less pressure on me. I was wondering if someone would be nice enough to come up w/ an app for this, just like the tip calculator. the formula is:

The formula has a principal, P, interest rate, r, and number of monthly payments, m. ^ means exponent.

P ( r / 12 )

-------------------------

(1 - ( 1 + r / 12 ) )^-36

For example, a 3 year (36 month) loan of $15,000 at 7% interest would look like this:

15000 ( 0.07/ 12 )

------------------------------

(1 - ( 1 + 0.07 / 12 ) )^-36

The payment for this car will be $463.16 per month.

Thanks much again!!!

What I did, I make a Excel document with the formula of how to calculate the APR. I saved the Excel doc in my cellphone and I just edited the excel sheet.

APR.zip