You just bought a car and your MONTHLY payments are $500. You got a six year loan from your local bank at a rate of 4.5% annually.. How much did you pay for the car? Reference the below formulas when solving the problem above: PV=FV/(1+r)^t FVA PMT(((1+r)^t)-1)/r (r/12)^t(12))-1)/(r/12) = PVA PMT(((1-(1+r)^-t)/r)) t(12)))/(r/12) FV = PV(1+r)^t FVA = PMT((1+ PVA PMT((1-(1+(r/12))^- Edit View Insert Format Tools Table 12pt v Paragraph v P O words