Overhaulin'

How to calculate loan payments (without online calc)?

Its for a math project where I have to show my work, and for some reason I completely forgot how to do the stuff. We're doing recursive formulas, and I need to figure out this: How do you calculate how many months it will take to pay off a car with a monthly payment. I have to have three different payments, but just show me how for the one below: u(0)=600910 u(n-1)*(1+(.025/12))-3000 Also, how do I find out how much you have to ACTUALLY pay by the time its all done. Please help! :(

Public Comments

1. Monthly payment multiplied by term, multiplied by interest rate added to sum of the payment multiplied by term.