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Internet amortization answers differ from function
I have figured the nper for a loan on a number of amortization schedules on
the net. However, when I use the npr function in Excel, I get a different number of periods. Why would this be? For example, in excel for a 2.9/12 % loan, 16,472 pv , 0 fv and a $505 per month payment, I get 31.4 months of payments. However, on the internet programs, i get 34 months. Does Excel figure this differently? |
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