How To Calculate The Total Interest Cost of a Car Loan

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  • Опубліковано 8 лют 2025
  • This finance video tutorial explains how to calculate the total interest cost of a car loan using the amortization formula.
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КОМЕНТАРІ • 28

  • @theerdem4698
    @theerdem4698 2 роки тому +53

    Bro started from chemistry to all subjects and now he teaches the real problems

  • @marcal7224
    @marcal7224 Рік тому +3

    THANK YOU SO MUCH FOR PROVIDING THIS FORMULA!!! I could not find this over the internet on how to calculate total interest paid over a term loan and you've finally showed me.. I knew it was complicated and why it wasn't so easily given when googling it.. THANK YOU SO MUCH!!!!

  • @MrChips-oh9de
    @MrChips-oh9de 2 роки тому +6

    This is really helpful man thank you

  • @Solbashio
    @Solbashio 2 роки тому +5

    he carried me in school. now in life.

  • @b.c.2836
    @b.c.2836 Рік тому +1

    Do you have the formula for adding extra principal payment every month?

  • @paulogonzales5514
    @paulogonzales5514 2 роки тому +2

    I'm predicting that some car insurance company jokes is yet to come

  • @sharriceowens913
    @sharriceowens913 Рік тому +1

    im having trouble with the last step how to plug the bottom into the calculator.

  • @chinnchilli2842
    @chinnchilli2842 Рік тому

    Thank you!

  • @Roxo_Vazio
    @Roxo_Vazio 2 роки тому

    tremendous help thank you so much

  • @jwhyt94
    @jwhyt94 6 місяців тому

    you may already have something on it, haven't looked yet. Can you do something were like the example your payment is 303.... but say you pay 400 a month instead

  • @georgebrian9273
    @georgebrian9273 2 роки тому +3

    Sir please can you make videos on relativity

    • @GOGEDIT
      @GOGEDIT 2 роки тому

      The theory of general relativity isn’t the focus of many learners so it might not be good financial decision.

  • @DorcasRatabana
    @DorcasRatabana Рік тому

    I don't understand... annual interest rate but in the substitution you compounded monthly.

  • @MotivatedMia
    @MotivatedMia Рік тому +1

    Does anyone know a easier way to calculate APR? I feel completely lost.... I do not understand the formula.

    • @nhitc6832
      @nhitc6832 Рік тому

      you don't calculate APR. That's given to you by the bank. If the bank wants to give you, say, 5% APR, that's what you'll get.

  • @laurelrafter3213
    @laurelrafter3213 Рік тому

    At the end, you stopped speaking your calculations, so I could no longer follow. How did you type in the final math to get the 303.34??

  • @JoeMeats
    @JoeMeats Рік тому

    This looks like rocket science when all you did your whole school life was algebra and college algebra, this looks more like calculus

    • @hxnnas_vs
      @hxnnas_vs Рік тому

      You’re not too far off we’re doing this in pre calculus

  • @londonbridges9739
    @londonbridges9739 2 роки тому +1

    How did you know N=12

    • @nhitc6832
      @nhitc6832 Рік тому

      because it's every month, they would apply the interest. So, that's 12 months in a year. Hence, N = 12

  • @Goal_Insight
    @Goal_Insight 2 роки тому +1

    I think I commented first

    • @tim3line
      @tim3line 2 роки тому

      Yeah bots don't count lol

  • @kiduzi9507
    @kiduzi9507 Рік тому

    If I understand correctly:
    Let: n = principle ÷ total years in loan
    you're roughly paying x% of the principle, plus x% of (principle - n), plus x% of (principle - 2n) and so forth?

  • @calesticall128
    @calesticall128 2 роки тому

    MP = Loan domain for muscle anymore.. Kurs or tirane physicly open TC leave your have muscle graduation Dollars not Rupiah.

  • @WellActualllyyy
    @WellActualllyyy Рік тому

    why am i getting 138

  • @bisratberhan4117
    @bisratberhan4117 2 роки тому

    Please men create videos on hormones, heart e. t. c

  • @cool358
    @cool358 2 роки тому

    Ok