On Jun 5, 1:13*pm, Heinz wrote:
=PMT(.05,360,260000) result is (13,000.00) Why?

I don't know, since you did not indicate what the expected result is.

If ".05" is an annual rate of 5%, and "360" is the number of months,
you want .05/12 as the first argument, not .05. By the way, you can
write it as 5%/12, if you find that more readable. (I do.)

If the negative result concerns you, you can avoid it by writing
-260000 instead of 260000.

In Excel (and many financial tools), "in" and "out" cash flows must
have opposite signs. But the sign that you choose for "in" is
arbitrary. (A borrower sees the loan amount as a positive inflow,
whereas the lender sees it as a negative outflow. You pretend to be
either.)

Of course, you could also write -PMT(.05,360,260000). As I said, it
is completely arbitrary -- whatever your personal preference is.

But when you have pmt, PV and FV in the same function call, you will
have to obey the rule about opposite signs. This is true for IRR and
XIRR as well. So IMHO, you might as well get used to it.