J
JR Hester
Excel XP on WinXP
First let me say that maybe I just don't understand financial functions,
although I have done amortizations in the past.
I am having trouble understanding what is happening with the NPER function
recently.
Using the NPER function gave me disappointing results for a calulation I was
making. I decided to test the function ( and my use of it) against a known
value-- A current mortgage. Mortgage amt 50,000, rate 6.875% and term of 15
years with a monthly payment of $475.25. I used the formula =NPER(6.88%/12,
475.25, 50000, 0). This returned -82.56, which is a long way from the 180
monthly payments my mortgage is scheduled to include.
There must be an error in my execution of the NPER function, but I can't
seem to see where its at. Or am I totally misunderstanding the purpose of
thsi function.
Any light you can shed on this for me will be greatly appreciated.
Thanks to all participants in the Excel Community
First let me say that maybe I just don't understand financial functions,
although I have done amortizations in the past.
I am having trouble understanding what is happening with the NPER function
recently.
Using the NPER function gave me disappointing results for a calulation I was
making. I decided to test the function ( and my use of it) against a known
value-- A current mortgage. Mortgage amt 50,000, rate 6.875% and term of 15
years with a monthly payment of $475.25. I used the formula =NPER(6.88%/12,
475.25, 50000, 0). This returned -82.56, which is a long way from the 180
monthly payments my mortgage is scheduled to include.
There must be an error in my execution of the NPER function, but I can't
seem to see where its at. Or am I totally misunderstanding the purpose of
thsi function.
Any light you can shed on this for me will be greatly appreciated.
Thanks to all participants in the Excel Community