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PMT function question
I have a question regarding the PMT funtion. Example: loan amount = 10000,
Annual % rate is 7.5%, term is 5 years, payments per year is 12. The regular function would be: PMT(%/12, 5*12,-10000) How do you set this up using daily interest instead of monthly interest with a monthly payment. Or, is the PMT function the correct function to use?? |
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