ExcelBanter - How to spread 15,000 into 12 months at 10% ?

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payer and planner

How to spread 15,000 into 12 months at 10% ?

I want to know how to plan payments with monthly interes rates.
If I borrow 15,000USD at 10% interest annual, what is the formula on a
spread sheet? I have Office 2003
Pls advise, thx

renegan

How to spread 15,000 into 12 months at 10% ?

Assuming interest compounded monthly and you make the first payment at
the beginning of the term:

=PMT(0.1/12,12,15000,0,1)

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renegan
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