"DLL" wrote:
I need to create a formula to calculate the quarterly payment required
for a $20,000 loan at an annual interest rate of 10% for 6 years.

That depends on the jurisdiction of the loan. The following works for US
loans:

=pmt(10%/4, 6*4, -20000)

With Excel financial functions, normally (but, sigh, not always), inflows
and outflows should have opposites, positive and negative. But which
direction is postive or negative is an arbitrary choice, depending on your
point of view (borrower v. lender; saver v. bank). Generally, I choose a
point of view so that the function returns a positive number.


----- original message -----

"DLL" wrote in message
...


I need to create a formula to calculate the quarterly payment required for
a
$20,000 loan at an annual interest rate of 10% for 6 years. Any help is
appreciated. Thanks in advance.