Excel Formula for calculating Finance Charge

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kumar1803

Board Regular
Joined
Jan 7, 2015
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110
Hello
I need help with a formula to calculate finance charge with the following variables..I need a value for finance charge ( buy rate) and finance Charge( sell rate) Please help:

Buy RateSell RateAmount FinancedTerm Finance Charge ( Buy rate)Finance Charge ( Sell Rate)
7.99%9.99%2500060 months

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The finance charge is the Pmt x Term - Amount Financed
Assuming monthly payments: =PMT(Rate/12, 60, -Amount Financed) x Term - Amount Financed
 
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