How To Calculate The Total Interest Cost of a Car Loan

This finance video tutorial explains how to calculate the total interest cost of a car loan using the amortization formula.
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Assets, Liabilities, & Equity:
• Personal Finance - Ass...
The Short Ratio:
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Debt to Equity Ratio:
• Long Term Debt to Equi...
Time Value of Money:
• Time Value of Money - ...
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Future Value of Annuity:
• How To Calculate The F...
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The Present Value of an Annuity:
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Net Present Value & Internal Rate of Return:
• Net Present Value - NP...
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Annual Percentage Yield:
• Annual Percentage Rate...
Amortization Loan Formula:
• Amortization Loan Formula
Amortization Table:
• How To Create an Amort...
Rule of 72:
• Rule of 72
Bond Yields:
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[@theerdem4698]

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

[@jowo8862]

Ikr

[@marcal7224]

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]

This is really helpful man thank you

[@Solbashio]

he carried me in school. now in life.

[@paulogonzales5514]

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

[@chinnchilli2842]

Thank you!

[@sharriceowens913]

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

[@Roxo_Vazio]

tremendous help thank you so much

[@b.c.2836]

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

[@user-pg2ny1pw2k]

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

[@georgebrian9273]

Sir please can you make videos on relativity

[@GOGEDIT]

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

[@otsi.l]

I want to meet you one day Julio.

[@laurelrafter3213]

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??

[@MotivatedMia]

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

[@nhitc6832]

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.

[@londonbridges9739]

How did you know N=12

[@nhitc6832]

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

[@JoeMeats]

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]

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

[@WellActualllyyy]

why am i getting 138

[@calesticall128]

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

[@cool358]

Ok

[@bisratberhan4117]

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

[@Agbah_K_Lawson]

I think I commented first

[@tim3line]

Yeah bots don't count lol

[@kiduzi9507]

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?