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Old 07-17-2007, 11:50 PM
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Default how do calculate the interest rate given on a car...
...lease? For example: a car saleman came up with 599/mo payment with a value of 46,000 car.
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Old 07-18-2007, 02:20 PM
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Take your loan amount.. Call it Ltake you interest and divide by 12, like 9% would be .09/12=.0075. Call this i.take the number of months in the loan. Call this M.Your payment is = L * i/(1-1/(1+i)^M)
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