software

I am trying to figure out a function for interest only payments. If it is a
$10,000 loan for 30 years with a 5% interest rate, what function should I use
to figure out what the monthly payment would be??

on another task, how would I get it to give me a positive amount for the
monthly payment instead of a negative amount. I understand the whole cash
flow thing but if I am using this as a mail-merge type thing I do not really
want it to print out negative numbers for a payment amount on letters going
to potential customers.

Thank you very much in advance.Look in help for the RATE function--

Regards,

Peo Sjoblom

nwexcelsolutions.com
quot;Karenquot; gt; wrote in message
...
gt;I am trying to figure out a function for interest only payments. If it is
gt;a
gt; $10,000 loan for 30 years with a 5% interest rate, what function should I
gt; use
gt; to figure out what the monthly payment would be??
gt;
gt; on another task, how would I get it to give me a positive amount for the
gt; monthly payment instead of a negative amount. I understand the whole cash
gt; flow thing but if I am using this as a mail-merge type thing I do not
gt; really
gt; want it to print out negative numbers for a payment amount on letters
gt; going
gt; to potential customers.
gt;
gt; Thank you very much in advance.
gt;
hi,
The length of the loan is not important. The rate / 12 * principle is all
that matters. So .05/12*10000 = the payment. No mater the length of the loan,
since it is Interest only.
--
Davidquot;Karenquot; wrote:

gt; I am trying to figure out a function for interest only payments. If it is a
gt; $10,000 loan for 30 years with a 5% interest rate, what function should I use
gt; to figure out what the monthly payment would be??
gt;
gt; on another task, how would I get it to give me a positive amount for the
gt; monthly payment instead of a negative amount. I understand the whole cash
gt; flow thing but if I am using this as a mail-merge type thing I do not really
gt; want it to print out negative numbers for a payment amount on letters going
gt; to potential customers.
gt;
gt; Thank you very much in advance.
gt;