Help: Calculating loan payments

[Vernon]

I have managed to use the PMT function to calculate the payments on a fixed
rate loan, I am however stumped at how to work out the payments on one of
these PCP type of car loans where you defer part payment to the end.

Can anyone help? With a formula in plain english?

Example would be
finance amount £9000
Final payment £3000
annual int rate 11.9%
months 36

many thanks

Vernon

 

[Anders S]

Vernon,

The fourth parameter to PMT() takes the end payment like in

=PMT(11.9%/12,36,9000,-3000)

Don't forget the fifth parameter to PMT(), payments in the beginning or end of the month. See Excel Help for more info.

HTH
Anders Silvén