help with finding loan payment (amortization) formula (installment)?

Go to your two favorite car dealers and select any new automobile that you would like to own. Select a car from each site. List each type of car (i.e. make, model, and added options, if applicable). For each car, find the price. Include in the price the dealer prep, tax, title, etc (if applicable). Assume you have $1000 for a down payment. Using the formula above, calculate the monthly payment for each car assuming you can borrow at 8% APR for five years. Compute the total amount of payback for each car. Assume you have a down payment of $2500 and a 12% APR. Compute the monthly payment and the total amount of payback for each car

If you have Excel, Microsoft has free Excel templates you can downloan. There are some specific to auto loans. Here a link:

http://office.microsoft.com/en-us/templates/TC060784791033.aspx?pid=CT101444811033

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