5: Time Value of Money Calculations 55
Begin and End Modes
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Loan Calculations
Example: A Car Loan. <RXDUHILQDQFLQJDQHZFDUZLWKDWKUHH\HDU
ORDQDWDQQXDOQRPLQDOLQWHUHVWFRPSRXQGHGPRQWKO\7KHSULFH
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Part 1. :KDWDUH\RXUPRQWKO\SD\PHQWVDWLQWHUHVW"$VVXPH
\RXUSD\PHQWVVWDUWRQHPRQWKDIWHUWKHSXUFKDVHRUDWWKHHQGRIWKH
ILUVWSHULRG
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LIBEGINDQQXQFLDWRULVGLVSOD\HG
Page 55 Wednesday, June 21, 2000 5:19 PM