I am trying determine the mathematical formulas used in an online auto loan calculator.
The loan calculator is located here, and has 4 different tabs with different calculations:
http://www.cars.com/go/advice/financing ... anCalc.jsp
- "Auto Loan Calculator"
- "Cash Back vs. Low Interest"
- "Buy vs. Lease"
I need help figuring out each tabs' formula:
Monthly Payment = ((vehicle price - (down payment + trade in value)) * sales tax * interest rate) / term months
Any and all help is greatly appreciated.