Thanks Sheeloo,

The problem here is that the interest rate (so it's understandable to my
clients is inputted in N23 as 6.65%. So by adding (N23,30,-L23),"")) it
accually multiplies 6.65x30-L23 where I need the formula to read N23 as
0.0665 and then complete the rest of the formula ( ,30-L23),""))

How does the interest only formula calculate it correctly but not the P&I
formula?

I hope this makes sense?


"Sheeloo" wrote:

Try
=IF(AND(I23="IO",L23<"",N23<""),L23*N23,IF(AND(I 23="PI",L23<""),PMT(N23,30,-L23),""))

will give you the same result as your formula below if N23 is equal to 0.09
"Scoober" wrote:

Hi,

Can some one help me with the following.

I have had this formula working in a spredsheet for a while now and have
realsied it has a limitation.

=IF(AND(I23="IO",L23<"",N23<""),L23*N23,IF(AND(I 23="PI",L23<""),PMT(0.09,30,-L23),""))

As you can see the Principle & Interest is worked out at a static 9%. Can
someone show me the alteration within this formula (everything else in the
formula is working perfectly) required for the P&I part of the formula to
read the interest rate placed in N23 (as the formula does for the interest
only formula). ?