Interest Rate Givien IRR ((please help me to solve it)

H

humod.aman

hi
can i know how much is the installment givien Only IRR
let say
1- i will Finance 10,000 USD
2- for 5 years
3- my IRR must be 15%
how can i solve it??
 
R

Rusty

humod.aman said:
hi
can i know how much is the installment givien Only IRR
let say
1- i will Finance 10,000 USD
2- for 5 years
3- my IRR must be 15%
how can i solve it??
Click to expand...

Use the PMT function.

It returns $2983.16 for annual payments or $237.90 for monthly payments.

Cheers,
Ken Russell
 
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