Mortgage calculations
"Jeff" wrote in message
...
I need a formula to calculate the payments based on loan amount, interest
rate and term of the loan. This is for mortgage payments
Excel Formula =PMT() (see Help)
Math Formula:
pv * rate
pmt = -------------------------
1
1 - ------------------
(1 + rate) ^ nper
whe
pmt = payment
pv = present value
nper = number of payments
rate = rate of interest
Bruno
|