+ Reply to Thread
Results 1 to 3 of 3

loan payment

  1. #1
    Registered User
    Join Date
    04-16-2006
    Posts
    1

    Smile loan payment

    Good afternoon:

    I am fairly new on using excel I am trying to format a PMT FUCTION for a mortage payment. The interest rate is 7% years of loan life is 5 and loan amount is $10,000. How would I go about formation this function to get a loan payment amount.


    Thank You
    Ana

  2. #2
    Peo Sjoblom
    Guest

    Re: loan payment

    =PMT(7%/12,5*12,10000)

    or if you use cells

    A1 7%
    A2 5
    A3 10000

    =PMT(A112,A2*12,A3)

    --

    Regards,

    Peo Sjoblom

    Excel 95 - Excel 2007
    Northwest Excel Solutions
    www.nwexcelsolutions.com
    "It is a good thing to follow the first law of holes;
    if you are in one stop digging." Lord Healey


    "vieira" <vieira.26dfuy_1145214902.5821@excelforum-nospam.com> wrote in
    message news:vieira.26dfuy_1145214902.5821@excelforum-nospam.com...
    >
    > Good afternoon:
    >
    > I am fairly new on using excel I am trying to format a PMT
    > FUCTION for a mortage payment. The interest rate is 7% years of loan
    > life is 5 and loan amount is $10,000. How would I go about formation
    > this function to get a loan payment amount.
    >
    >
    > Thank You
    > Ana
    >
    >
    > --
    > vieira
    > ------------------------------------------------------------------------
    > vieira's Profile:
    > http://www.excelforum.com/member.php...o&userid=33545
    > View this thread: http://www.excelforum.com/showthread...hreadid=533304
    >




  3. #3
    Niek Otten
    Guest

    Re: loan payment

    =PMT(7%,5,10000)

    Gives you

    ($2,438.91)


    (in parentheses because the sign is negative, compared to the 10000)

    Is that what you were looking for?
    --
    Kind regards,

    Niek Otten

    "vieira" <vieira.26dfuy_1145214902.5821@excelforum-nospam.com> wrote in message
    news:vieira.26dfuy_1145214902.5821@excelforum-nospam.com...
    |
    | Good afternoon:
    |
    | I am fairly new on using excel I am trying to format a PMT
    | FUCTION for a mortage payment. The interest rate is 7% years of loan
    | life is 5 and loan amount is $10,000. How would I go about formation
    | this function to get a loan payment amount.
    |
    |
    | Thank You
    | Ana
    |
    |
    | --
    | vieira
    | ------------------------------------------------------------------------
    | vieira's Profile: http://www.excelforum.com/member.php...o&userid=33545
    | View this thread: http://www.excelforum.com/showthread...hreadid=533304
    |



+ Reply to Thread

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts

Search Engine Friendly URLs by vBSEO 3.6.0 RC 1