PMT function

[joemoran7]

i am doing a spreadsheet 4 a gym. i need to use a PMT function to fin
the monthly payment the customer needs to pay.

there is a fee for the membership, a deposit is paid initially, and th
interest rate is 4.75% annual of the amount to be paid.

but when i do this i get a negative figure, which means that th
customer needs 2 pay -£'s a month in order to pay the amount they ow
after they have paid there deposit, this cannot be correct.

please hel

 

[Louise]

The PMT function always returns the answers as a minus figure, even though
technically it isn't. You haven't done your formula wrong - this is just how
it works.