IPmt function in Access 2003

G

Guest

I am trying to calculate the monthly payments for a repayment mortgage using
the Pmt function

Pmt(sum([InterestRate]/1200),sum([MortgageTerm]*12),[MortgageAmount],0,0)

The result is always incorrect by about £200, I am checking my calculations
against online mortgage calculators and my own math. Can somebody tell me
where I am going wrong or suggest another way of calculating this.
 
C

Chris2

Dave Clissold said:
I am trying to calculate the monthly payments for a repayment mortgage using
the Pmt function

Pmt(sum([InterestRate]/1200),sum([MortgageTerm]*12),[MortgageAmount],0
,0)

The result is always incorrect by about £200, I am checking my calculations
against online mortgage calculators and my own math. Can somebody tell me
where I am going wrong or suggest another way of calculating this.
Click to expand...

Dave Clissold,

Can you please provide the following?

The input data.

The output data.

The "correct" calculations.

The datatypes for [InterestRate], [MortgageTerm], and
[MortgageAmount].


Sincerely,

Chris O.
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Similar Threads

Problem with the Pmt function. 2
IPMT Function 4
PPMT function replacement 1
Excel IPMT - strange results? 1
Excel PMT function returns incorrect values 2
IPMT Function 7
Is there a way for excel to recognise that €0.00 = 0 for the purposes IF function ? 4
PPMT Function Repost 12

Top