Hi Graham,

=PMT(A3,A2,A1,A4)

The sign of the answer will be opposite to that of PV and FV.

Percentages should be given as fractions: 5% is 0.05 (which again can be entered as 5%!)

--
Kind regards,

Niek Otten
Microsoft MVP - Excel

"Graham Haughs" wrote in message ...
| Trying to work out the annual cost of machinery purchase but having
| difficulty getting a function which seems to incorporate all that needs
| to be considered. The parameters I have are, putting them in cells for
| easier reference.
| A1 Original Cost
| A2 Period of depreciation (use)
| A3 Interest rate
| A4 Salvage value
|
| What I am trying to get is the annual cost of purchasing this equipment.
| I appreciate you can have situations where the cost is higher in the
| initial years but I am not really bothered with this, it is the average
| cost.
| I had tried using the SLN function but this does not take in the
| interest rate. There is also an annual repair charge to be added but I
| do not think this could be incorporated into the function.
| I would value any guidance.
|
| Kind regards
| Graham Haughs
| Turriff, Scotland