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PMT function
i am doing a spreadsheet 4 a gym. i need to use a PMT function to find the monthly payment the customer needs to pay. there is a fee for the membership, a deposit is paid initially, and the interest rate is 4.75% annual of the amount to be paid. but when i do this i get a negative figure, which means that the customer needs 2 pay -£'s a month in order to pay the amount they owe after they have paid there deposit, this cannot be correct. please help -- joemoran7 |
#2
Posted to microsoft.public.excel.worksheet.functions
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PMT function
The PMT function always returns the answers as a minus figure, even though
technically it isn't. You haven't done your formula wrong - this is just how it works. "joemoran7" wrote: i am doing a spreadsheet 4 a gym. i need to use a PMT function to find the monthly payment the customer needs to pay. there is a fee for the membership, a deposit is paid initially, and the interest rate is 4.75% annual of the amount to be paid. but when i do this i get a negative figure, which means that the customer needs 2 pay -£'s a month in order to pay the amount they owe after they have paid there deposit, this cannot be correct. please help -- joemoran7 |
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