software

I need a formula to calculate the payments based on loan amount, interest
rate and term of the loan. This is for mortgage payments

quot;Jeffquot; gt; wrote in message
...
gt;I need a formula to calculate the payments based on loan amount, interest
gt; rate and term of the loan. This is for mortgage payments

Excel Formula =PMT() (see Help)Math Formula:
pv * rate
pmt = -------------------------
1
1 - ------------------
(1 rate) ^ nper

whe
pmt = payment
pv = present value
nper = number of payments
rate = rate of interest

Bruno

Try PMT(), read up on it.Jeff Wrote:
gt; I need a formula to calculate the payments based on loan amount,
gt; interest
gt; rate and term of the loan. This is for mortgage payments--
Morrigan
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