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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
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Comments

Ash
17.03.18, 04:43

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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