Error in A Simple Car Loan Payment Calculator


#1

erreur

I guess it’s year/12 not year*12 .


#2

If the loanLength is set to say, 3 years, then there are loanLength * 12 monthly payments.

A = P * (i * (1 + i) ** n) / ((1 + i) ** n - 1)

P => principal amount
i => periodic interest (annual rate / 12)
n => number of payments
A => monthly payment

#3

Oh I feel so stupid now, I just posted that quickly.Thanks!


#4

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