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using Excel 2003
I have taken the following from the Excel Help. I cannot Understand exactly how this function works. 10% Annual interest 1 Period for which you want to find the interest 3 Years of loan 8,000.00 Present value of loan -2,000 FV 0 Type (payments at end of period) the results for each of the periods are as follows -ぎ1,983.43 period 1 -ぎ1,999.95 period 2 -ぎ2,016.62 period 3 -ぎ6,000.00 Total repayment principal - which is correct If I change the type to 1 (payments in advance) the total amounts are -ぎ2,033.15 period 1 -ぎ1,983.43 period 2 -ぎ1,999.95 period 3 -ぎ6,016.53 Total repayment principal - This cannot be correct !!!!! What am i doing wrong??? What about the IPMT Function. Would this have the same error?? Many thanks in advance for all help/sgl |
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