Although you are probably correct that a 30 year loan is $375,000 the OP in
fact is using
$375 :) at least as written in his example

--
Regards,

Peo Sjoblom


"ww" wrote in message
...
The way you have it set up is
Amount of loan: $375,000
Years: 30
Interest rate: 1.8%

Is that what you wanted? 1.8% seems low? Also for PMT() the amount
375,000
should be -375000 or it will return a negative payment amount if that
would
cause a problem.

"punkyh" wrote:

I am trying to get a monthly payment figure by using the payment formula
in
excel. It always calculates the payment incorrectly. I try it on my
financial calculator, as well as a financial program I have in the
computer
and these two come up with the same figure. Then I try it in excel, the
answer is different.

the formula I am using is: =PMT(.0015,360,375,000)

Any help??