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YACT: What is the formula for calculating an auto loan...

A = P(1+r/n)^(n*t)

where, P = principal amount (initial investment)
r = annual interest rate (as a decimal)
n = number of times the interest is compounded per year
t = number of years
A = amount after time t
 
Cost of car * (1 + interest rate) / length of loan

Example: $10,000 car * (1.08) / 48 months = $225 / month
 
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