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Here's the problem:
PV $450,000
Rate: 6%
Term: 3 years
The payments will be monthly, but I want to show annual and monthly compounding. How do I change the formula? =pmt(.06/12,3*12,450000) This gets me monthly, what gets me annual?
Here's the problem:
PV $450,000
Rate: 6%
Term: 3 years
The payments will be monthly, but I want to show annual and monthly compounding. How do I change the formula? =pmt(.06/12,3*12,450000) This gets me monthly, what gets me annual?
With annual compounding it would simply be
=pmt(.06,3,450000)
ChemistB
My 2?
substitute commas with semi-colons if your region settings requires
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