You don't have the right number of zeros. Try =PMT(0.005,360,260000,0) (gives
($1,558.83)) if you want 6% per year (6/100/12 = 0.005). The negative sign is
normal. Think of it as "opposite" since the original balance and the payments
represent money flowing in "opposite" directions. If you want the answer to
be positive, use =PMT(0.005,360,-260000,0) or =-PMT(0.005,360,260000,0), etc.

"Heinz" wrote:

=PMT(.05,360,260000) result is (13,000.00) Why?