Loan amount- 1,200,000 Term(years)- 15% Interest rate- 3.125% Payment frequency- monthly can anyone please solve this...

Loan amount- 1,200,000

Term(years)- 15%

Interest rate- 3.125%

Payment frequency- monthly

can anyone please solve this in excel with formulas for each cells.

Expert Solution

As shown in attached Screen shot. Put Loan Amount in C3 = 1200000, Interest in C4 in absolute terms i.e. if rate 3.125% then put it as 0.03125, Enter no of periods in C5 i.e. if 5 years and frequency is monthyl then put 180.

Now enter = pmt. the following syntax appears

=PMT (rate, nper, pv, [fv], [type])

Select at Rate = C4/12 ( Divide 12 because monthly frequency and rate is Annual)

nper is No of periods = C5

PV = - C3 ( put minus sign to get positive value in PMT)

[Fv] = It is optional if FV given otherwise left blank

[type] = it is also optional ( 0 for end period payment and 1 for beginning payment i.e. annuity due) ( left blank if annuity regular because it is bydefault.

jeff jeffy answered 2 years ago

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