how do you make bi-monthly payments on an ammortization

G

Gary Brown

Use the PMT() function.

- Assume 5.5% annual interest rate
- Assume 6 payments per year (every other month)
- Assume normal 30 year loan
[30 years x 6 payments per year = 180]
- Assume Loan of $100,000
- Assume loan is totally paid (-0-) off after 30 years

The formula for amount of payment every other month would
be...
=PMT(0.055/6,180,100000,0)

HTH,
Gary Brown
 

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