The Pmt function does not return an answer that is even close. I am trying to
determine what the monthly payment ould be on 30 year laon of $9,620,320 with
a 8% interest rate.

70,123.01

using
=PMT(8%/12,360,-9620320,0,1)

"rfhorn" wrote in message
...
The Pmt function does not return an answer that is even close. I am trying
to
determine what the monthly payment ould be on 30 year laon of $9,620,320
with
a 8% interest rate.

A word of caution on calculating loan payments. It is important to
understand whether the payment is due at the beginning of the payment period
or at the end of the payment period. Most mortgages are due at the end of
the payment period.

For a payment due at the end of the payment period the formula should read
=PMT(8%/12,360,-9620320,0,0) which returns $70,590.50.



"N Harkawat" wrote in message
...

70,123.01

using
=PMT(8%/12,360,-9620320,0,1)

"rfhorn" wrote in message
...
The Pmt function does not return an answer that is even close. I am
trying to
determine what the monthly payment ould be on 30 year laon of $9,620,320
with
a 8% interest rate.

Thanks for the response. I appreciate it very much.

"N Harkawat" wrote:


70,123.01

using
=PMT(8%/12,360,-9620320,0,1)

"rfhorn" wrote in message
...
The Pmt function does not return an answer that is even close. I am trying
to
determine what the monthly payment ould be on 30 year laon of $9,620,320
with
a 8% interest rate.