Calling all MVP's

[Saar]

An assignment: Using the PMT function, compute the
monthly payment needed to accumulate $75,000 at the end of
18 years assuming an annual interest rate of 6.5%,
payments are made at the beginning of the period.

Then using the IPMT function and wizard, do a spreadsheet
showing the amount of interest for each period and the
accumulation for each period and the final amount
accumulated on period 216.

Don't use your own formula, use Microsoft's. Then tell me
your spreadsheet shows $75,000 at the end of period 216.

If you can't get it please let me know that also.

I have run it on Excel 97, 2000, 2002, and now on 2003.
I'd love to see your work showing me how to do it right.

This is not an amortization, just a compound interest
accumulation to a final goal amount.

And yes, Harlan and friends, CPA's have been known to be
almost as bad as MVP's.

 

[Peo Sjoblom]

I doubt you will get help with your assignment with an attitude like that
whether you are dave or Saar or both. You are fired! <g>

 

[JE McGimpsey]

Poor subject line. Why do you assume MVPs are financial gurus?

The MVP award is given for expertise in XL and MS's conception of
"community service". It confers no advanced training in finance (and
there's no financial reward).

And please don't tar Harlan with the MVP brush - I aspire to reach his
understanding of spreadsheets and worksheet functions someday.

 

[Ken Wright]

Nicely put JE, on all counts

 

[Norman Harker]

Hi Saar!

I've done as requested and secure the cross checking result. I'm also
an MVP.

Here's what you have asked for:


--
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.

 

[Norman Harker]

Hi JE!

The problem with our variously named poster is that apart from lacking
social skills, he fails to be able to read the Help description of a
function and he wants it to return something that is outside the range
of that function.

He's the one who goes to the Garden Centre and asks for 10 fence posts
and 10 fence panels. There are cases where that can be required but
the Garden Centre is right to ask if he really needs the same number.

--
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.