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#1
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format for 30 years amortization?
I am trying to find out how to put a format into a cell to calculate the loan
payment. |
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#2
Posted to microsoft.public.excel.worksheet.functions
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format for 30 years amortization?
"philpark" wrote:
I am trying to find out how to put a format into a cell to calculate the loan payment. I assume you mean "formula". The following might answer your question: =PMT(r/12, 12*n, -pv) where "r" is the nominal annual interest rate, so r/12 is monthly rate; "n" is the loan term in years, so 12*n is the number of monthly payments; and "pv" is the initial loan amount. |
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