Task 1 of 5
In B3, calculate the loan amount: the car price minus the down payment (B2 is a share of the price).
Lesson theory
A family plans to buy a car with a loan and is saving up for a trip. Practice PMT, FV and PV.
Tip: the rate and the term must use the same unit. The payments are monthly, so divide the annual rate by 12 and enter the term in months.
All rates here are made-up practice numbers.
Practice is part of Pro
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