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I am trying to find out how to put a format into a cell to calculate the loan
payment.
quot;philparkquot; wrote:
gt; I am trying to find out how to put a format into a
gt; cell to calculate the loan payment.
I assume you mean quot;formulaquot;.
The following might answer your question:
=PMT(r/12, 12*n, -pv)
where quot;rquot; is the nominal annual interest rate, so r/12 is
monthly rate; quot;nquot; is the loan term in years, so 12*n is the
number of monthly payments; and quot;pvquot; is the initial loan
amount.
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