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PMT vs NPER

  1. #1
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    PMT vs NPER

    Hi, I am doing something wrote when using NPER and PMT

    I calculate nper(0.035/12, 100, 10000) which equals -87.9 which means I'll payoff the $10000 loan in 87.9 months by paying $100 every month.

    Then I calculate pmt(0.035/12, 87.9, 10000) which equals $-129.14

    Since I use the same 87.9 number of months in the PMT function, I would expect to get $100 as the payment amount, as I used in the NPER function.

    Can you tell me what I'm doing wrong??

  2. #2
    Cheeky Forum Moderator Ron Coderre's Avatar
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    Re: PMT vs NPER

    To DECREASE a balance, one of the arguments needs to be negative...Typically, the payment.
    Try these:
    A1: =NPER(0.035/12, -100, 10000)
    =118.403360421205

    A2: =PMT(0.035/12,A1,10000)
    =100

    Does that help?
    Ron
    Former Microsoft MVP - Excel (2006 - 2015)
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  3. #3
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    Re: PMT vs NPER

    Yes that was the problem! Thank you so much!!!!

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