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Answer to Question #63882 in Excel for Samantha Wyszynski
Question #63882
How do I find the monthly payment for this question:
On the Loan worksheet, in cell C9, enter a PMT function to calculate the monthly payment for the Altamonte Springs 2018 facilities loan. Ensure that the function returns a positive value and set the references to cells B5 and B6 as absolute references.
Interest rate is 4.5%
Number of payments is 12
cost of altamonte facilities is $16,450.95
On the Loan worksheet, in cell C9, enter a PMT function to calculate the monthly payment for the Altamonte Springs 2018 facilities loan. Ensure that the function returns a positive value and set the references to cells B5 and B6 as absolute references.
Interest rate is 4.5%
Number of payments is 12
cost of altamonte facilities is $16,450.95
Expert's answer
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Comments
Thank you so much Ash. If it weren't for you taking the time for that correction I would've failed. Thank you for being you.
Ash you are the BEST I have looked for this answer EVERYWHERE!!
I had 1 attempt left, much appreciated Ash!
Ash thanks !!!
You solved one of life's very long questions!!! 3 hours long give or take! THANKS!!! lol
ASH YOU LEGEND
Thanks Ash!!
THIS IS WroNG! Click cell C9. On the Formulas tab, in the Function Library group, click Financial, scroll down, and then click PMT. In the Function Arguments dialog box, with the insertion point in the Rate box, type $B$5/12. Press TAB to select the Nper box. Type $B$6. Press TAB to select the Pv box. Type -B9. Click OK.
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