Entering your data, I DO get 3014.78. I suspect that maybe B6 and C6 and A6
are not 100% what they look like? Click on each one and ensure the #s are
right.

"shabeer" wrote:

I am sales executive for a bank in UAE.My product is Personal
Loan. I am normally using the Ms Excel worksheet to calculate the monthly
installment for my clients.
Sometimes,i have to use my calculator to get the installment.
So how can i calculate the following formula with a normal calculator
=PMT(B6/12,C6,-A6)=3,014.78

B6=9.5% (Reducing Interest Rate per annum)
C6=48 months ie,4 year(Period for the Loan)
A6=120000 (Loan Amount)
I want to get the same answer (3,014.78) with a normal calculator.I expect
u will do the necessary and oblige

Yours Faithfully,
Shabeer
Uae
Mob No +971503842668