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Question Spike buys a car from John’s Auto Mart for $5000. He finances the car from the dealer and agrees to make payments of $180 per month for 3 years. What is the yield to maturity on this fixed payment loan? Hint: Use the rate function in excel, a financial calculator or an online calculator to solve this problem. Please tell me how to get the PV, FV, PMT in this question? Thanks a lot (PS: Rate Function=(nper, pmt, pv, fv)*n )

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Question

Spike buys a car from John’s Auto Mart for $5000. He finances the car from the dealer and agrees to make payments

of $180 per month for 3 years. What is the yield to maturity on this fixed payment loan?  

Hint: Use the rate function in excel, a financial calculator or an online calculator to solve this problem. 

Please tell me how to get the PV, FV, PMT in this question? Thanks a lot

(PS: Rate Function=(nper, pmt, pv, fv)*n )

 
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