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    Compound interest

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    What is the equation to compute loan payment for a multimonth car loan at a fixed interest?

    © BrainMass Inc. brainmass.com December 24, 2021, 4:43 pm ad1c9bdddf
    https://brainmass.com/business/interest-rates/compound-interest-3657

    Solution Preview

    To find a formula for future value, we'll write P for your starting principal, and r for the annual Interest rate expressed as a ...

    Solution Summary

    This provides the equation to compute a loan with given characteristics.

    $2.49

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