loan payment program

[HeyJay]

I cannot get the excel loan payment program to calculate correctly. I've
even used the specific example in Help and I get a completely different
answer.
Any ideas?

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HeyJay wrote:
> I cannot get the excel loan payment program to calculate correctly.

What do you mean by "program": template (which?) or function(s)?

> I've even used the specific example in Help and I get a completely
> different answer. Any ideas?

Not unless you provide a modicum of specifics. We are mindreaders, but
your thoughts do not transcend the Internet.

What are you doing; what answer to do you get; and what answer(s) do
you expect? Also, what country are you computing mortgages? In
particular, Canadian mortgage payments must be computed very
differently from US mortgage.

Taking a wild guess regarding your unspecified problem, be sure that
you handle the sign of the numbers correctly. Here is yet-another
example, which may or may not be helpful.

Loan: 100,000
Term: 30 yr
Interest rate: 6%

Monthly payment: =pmt(6%/12, 12*30, -100000)

Note that "-100000" yields a positive result for PMT(). I also write
my financial functions so that the results are positive. Some people
prefer the reverse.

This assumes that 6% is the (annual) interest rate, not the so-called
APR. For US mortgages, at least, the APR is a useless number for
computation purposes. It is not used or usable to compute the
payments. In the US, a mortgage APR is not the same as the effective
rate.