Great, thanks. I entered the % as 5.75 rather than.0575. The example from
Microsolt Help on PMT is not correct. They show it as 8%.

So, again, thanks.

"Niek Otten" wrote:

Note that interest rates are expressed as fractions, like 0.0575.
Also note that if the number of periods is in months, the rate should be the
month rate too.

If you still can't solve it, repost here and supply your formulas, values
and expected result please.
--

Kind Regards,

Niek Otten

Microsoft MVP - Excel

"Harraman@Bangalore" wrote in
message ...
annual int rate = 5.75
number of months = 360
principle - 320000
PMT answer = (103,667.97)

This is not correct. Can someone advise correct format for computing this
payment amount. Seesm straight forward.