I am trying to figure out a function for interest only payments. If it is a
$10,000 loan for 30 years with a 5% interest rate, what function should I use
to figure out what the monthly payment would be??

on another task, how would I get it to give me a positive amount for the
monthly payment instead of a negative amount. I understand the whole cash
flow thing but if I am using this as a mail-merge type thing I do not really
want it to print out negative numbers for a payment amount on letters going
to potential customers.

Thank you very much in advance.

Look in help for the RATE function


--

Regards,

Peo Sjoblom

http://nwexcelsolutions.com



"Karen" wrote in message
...
I am trying to figure out a function for interest only payments. If it is
a
$10,000 loan for 30 years with a 5% interest rate, what function should I
use
to figure out what the monthly payment would be??

on another task, how would I get it to give me a positive amount for the
monthly payment instead of a negative amount. I understand the whole cash
flow thing but if I am using this as a mail-merge type thing I do not
really
want it to print out negative numbers for a payment amount on letters
going
to potential customers.

Thank you very much in advance.

hi,
The length of the loan is not important. The rate / 12 * principle is all
that matters. So .05/12*10000 = the payment. No mater the length of the loan,
since it is Interest only.
--
David


"Karen" wrote:

I am trying to figure out a function for interest only payments. If it is a
$10,000 loan for 30 years with a 5% interest rate, what function should I use
to figure out what the monthly payment would be??

on another task, how would I get it to give me a positive amount for the
monthly payment instead of a negative amount. I understand the whole cash
flow thing but if I am using this as a mail-merge type thing I do not really
want it to print out negative numbers for a payment amount on letters going
to potential customers.

Thank you very much in advance.