Thread: Need advice on interest rates buying a used car from dealership
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Old 08-23-2016, 10:08 PM   #9
rucus
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Hi Mark,

Quote:
It's a present value calculation, the PV of 130 bi-weekly payments of $171.00 with an annual rate of 7.18%. The PV of that is $18,655.86, then you add your $5,000 to get "today's dollars".
I am sorry I cannot get my head around calculating this PV. May I ask how you calculated this figure so I can ask the dealer for clarification about it, just in case I come back there tomorrow.

Thanks,
Rucus
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