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PMT function
I can't ever seem to get the payment function to calculate properly. I am
entering an $80,000 loan with and interest rate of 8% payable over 5 years. This is the formula I am entering =PMT(0.6667,60,80000). The result I am getting is ($53,336.00). The answer should be a montly payment of $1,622. My eyes are crossed - what am I doing wrong? |
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