How to spread 15,000 into 12 months at 10% ?

  • Thread starter Thread starter Guest
  • Start date Start date
G

Guest

I want to know how to plan payments with monthly interes rates.
If I borrow 15,000USD at 10% interest annual, what is the formula on a
spread sheet? I have Office 2003
Pls advise, thx
 
Assuming interest compounded monthly and you make the first payment a
the beginning of the term:

=PMT(0.1/12,12,15000,0,1
 
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