Excel help please!!!?

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How do you calculate a loan payment with the loan amount (5000) the interest rate (5%) and the term(36 months) using formulas in excel? Like it would be =..what?

Excel help please!!!?

Kendrick is correct, except that by setting the Type argument to 1 it is assuming that the first payment is made immediately. Usually, you want to set that to 0 instead.

I have an entire Web site devoted to time value of money problems using Excel and financial calculators. Please see the link to my Excel TVM functions tutorial in the source list. Your question is answered on page 2 of that tutorial in the Annuities section.

Tim

http://www.tvmcalcs.com

Excel help please!!!?

Try the function PMT(5000,5%/12,36)

Hope that helps.

Excel help please!!!?

=PMT(0.05/12,36,5000,0,1) is the way for my version of Excel.

Edit: Oops, Tim. haha. Yes =PMT(0.05/12,36,5000,0,0) is the correct way. I knew that, but going fast. Moral: Always check over your work.

Excel help please!!!?

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