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to get the same answer from a normal calculator
I am sales executive for a bank in UAE.My product is Personal
Loan. I am normally using the Ms Excel worksheet to calculate the monthly installment for my clients. Sometimes,i have to use my calculator to get the installment. So how can i calculate the following formula with a normal calculator =PMT(B6/12,C6,-A6)=3,014.78 B6=9.5% (Reducing Interest Rate per annum) C6=48 months ie,4 year(Period for the Loan) A6=120000 (Loan Amount) I want to get the same answer (3,014.78) with a normal calculator.I expect u will do the necessary and oblige Yours Faithfully, Shabeer Uae Mob No +971503842668 (u can send the answer to this id) |
to get the same answer from a normal calculator
Help for PV gives the equation that Excel employs for its financial functions.
Jerry "shabeer" wrote: I am sales executive for a bank in UAE.My product is Personal Loan. I am normally using the Ms Excel worksheet to calculate the monthly installment for my clients. Sometimes,i have to use my calculator to get the installment. So how can i calculate the following formula with a normal calculator =PMT(B6/12,C6,-A6)=3,014.78 B6=9.5% (Reducing Interest Rate per annum) C6=48 months ie,4 year(Period for the Loan) A6=120000 (Loan Amount) I want to get the same answer (3,014.78) with a normal calculator.I expect u will do the necessary and oblige Yours Faithfully, Shabeer Uae Mob No +971503842668 (u can send the answer to this id) |
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