Hello Guys,
I work for a auto dealership and my boss asked me to calculate a reserve on finance deals. I have total 5 finance deals and total amount of financed is: $169,819. My spread is always 2% ( buy rate-sell rate)
The reserve is the difference between buy rate and sell rate. How do I calculate my reserve assuming my spread is always 2%.
Number of finance deal: 5
Total Amount financed: $169,819
Amount of reserve: ?
Assuming 2% is the spread which is difference between sell rate and buy rate.
I work for a auto dealership and my boss asked me to calculate a reserve on finance deals. I have total 5 finance deals and total amount of financed is: $169,819. My spread is always 2% ( buy rate-sell rate)
The reserve is the difference between buy rate and sell rate. How do I calculate my reserve assuming my spread is always 2%.
Number of finance deal: 5
Total Amount financed: $169,819
Amount of reserve: ?
Assuming 2% is the spread which is difference between sell rate and buy rate.