O
oman34m
How do I calculate the monthly payments of a loan--which formula?
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A
Andri_JT
Try to use the function:
Calculates the payment for a loan based on constant payments and a constant
interest rate.
PMT(rate,nper,pv,fv,type)
For a more complete description of the arguments in PMT, see the PV function.
Rate is the interest rate for the loan.
Nper is the total number of payments for the loan.
Pv is the present value, or the total amount that a series of future
payments is worth now; also known as the principal.
Fv is the future value, or a cash balance you want to attain after the
last payment is made. If fv is omitted, it is assumed to be 0 (zero), that
is, the future value of a loan is 0.
Type is the number 0 (zero) or 1 and indicates when payments are due.
Calculates the payment for a loan based on constant payments and a constant
interest rate.
PMT(rate,nper,pv,fv,type)
For a more complete description of the arguments in PMT, see the PV function.
Rate is the interest rate for the loan.
Nper is the total number of payments for the loan.
Pv is the present value, or the total amount that a series of future
payments is worth now; also known as the principal.
Fv is the future value, or a cash balance you want to attain after the
last payment is made. If fv is omitted, it is assumed to be 0 (zero), that
is, the future value of a loan is 0.
Type is the number 0 (zero) or 1 and indicates when payments are due.
O
oman34m
Thank You. That worked.
Andri_JT said:Try to use the function:
Calculates the payment for a loan based on constant payments and a constant
interest rate.
PMT(rate,nper,pv,fv,type)
For a more complete description of the arguments in PMT, see the PV function.
Rate is the interest rate for the loan.
Nper is the total number of payments for the loan.
Pv is the present value, or the total amount that a series of future
payments is worth now; also known as the principal.
Fv is the future value, or a cash balance you want to attain after the
last payment is made. If fv is omitted, it is assumed to be 0 (zero), that
is, the future value of a loan is 0.
Type is the number 0 (zero) or 1 and indicates when payments are due.