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Automobile Price $20,000.00 Number of Months 60 Annual Interest Rate 3.90% Buyback $8,000.00 Buy Lease Period Opening Balance Payment Interest Closing Balance Opening Balance Payment
| Automobile Price | $20,000.00 |
| Number of Months | 60 |
| Annual Interest Rate | 3.90% |
| Buyback | $8,000.00 |
| Buy | Lease | ||||||||
| Period | Opening Balance | Payment | Interest | Closing Balance | Opening Balance | Payment | Interest | Closing Balance | |
| 1 | $20,000.00 | $20,000.00 | |||||||
| 2 | |||||||||
Need help with formulas to calculate the monthly payments, interest, and closing balance, in excel. I think it is PMT functions, but can't figure it out.
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Managerial Accounting Tools For Business Decision Making
Authors: Jerry J Weygandt, Paul D Kimmel, Jill E Mitchell
9th Edition
9781119754053
