Periods don't match between the PMT and NPER functions

G

Guest

Use the following values:
Prin:1200
rate:6%/12
term:26 (periods)
PMT calculates a value of $49.33.

Calculate the number of periods using NPER using the same prin, rate and
$49.33 as the payment. NPER calculates 23 periods (rounded).

Why doesn't the NPER calculation equal 26?
 
N

Niek Otten

Check your figures once more; format them to show all decimals.

Using your data, I get NPER to result in 26. No rounding.

--

Kind Regards,

Niek Otten

Microsoft MVP - Excel
 

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