Calculate monthly paiements

  • Thread starter Thread starter Benoit
  • Start date Start date
B

Benoit

Hello,

I need to calculate monthly paiements. In cell A1 I will
put the amount of money, in A2 I will put the percentage
and in A3 the numbers of months I wanna take to pay the
amount. I wanna see the result in A4:

A1: 10,000$
A2: 7.5%
A3: 60 months
==================
A4: 198.96

Can you help???
 
use the =pmt() formula
if you use the formula wizard on your toolbar [fx]
it will help you input the appropriate assumptions.
 
Hi Benoit!

Use:
=PMT(A2/12,A3,A1,0,0)
Returns: -200.379485956236

The negative indicates a payment out of 200.38 each month for 60
months with the first payment made 1 month after drawing the loan.

It's not the same answer as your example. I've tried using Type = 1
(the final argument) but that isn't it. I've also tried treating the
rate as the annual effective rate using (1+A2)^(1/12)-1. But that
isn't it with payments type equal to 0 or 1. I've also used Canadian
and UK mortgage schemes and they draw blanks as well. So I'm a trifle
mystified on where you got the answer from.




--
Regards
Norman Harker MVP (Excel)
Sydney, Australia
(e-mail address removed)
Excel and Word Function Lists (Classifications, Syntax and Arguments)
available free to good homes.
 
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