Contact US

Log In

Come Join Us!

Are you a
Computer / IT professional?
Join Tek-Tips Forums!
  • Talk With Other Members
  • Be Notified Of Responses
    To Your Posts
  • Keyword Search
  • One-Click Access To Your
    Favorite Forums
  • Automated Signatures
    On Your Posts
  • Best Of All, It's Free!

*Tek-Tips's functionality depends on members receiving e-mail. By joining you are opting in to receive e-mail.

Posting Guidelines

Promoting, selling, recruiting, coursework and thesis posting is forbidden.

Students Click Here

Question regarding the Pmt function...

Question regarding the Pmt function...

Question regarding the Pmt function...

It is dumb question time again (yay!!)
I am trying to use the Pmt function to calculate the payment amount on a loan. The loan has an annual precentage rate of 6% and payments occur once a year for 15 years...
I set it up as follows:

payment = Pmt(0.06 / 1, 15, amount)

With amount being a variable dimmed as single that is input by the user. The answer I get is not even close to the truth. Any help on what I did wrong would be greatly appreciated :-)


RE: Question regarding the Pmt function...

amount should be dimmed double

RE: Question regarding the Pmt function...

payment = Pmt(0.06 / 1, 15, amount)

Should be:Payment = Pmt(0.06 , 15, amount)

If there were 12 payments in a year:

Payment = Pmt(0.06/12 , 15 * 12, amount)

Red Flag This Post

Please let us know here why this post is inappropriate. Reasons such as off-topic, duplicates, flames, illegal, vulgar, or students posting their homework.

Red Flag Submitted

Thank you for helping keep Tek-Tips Forums free from inappropriate posts.
The Tek-Tips staff will check this out and take appropriate action.

Reply To This Thread

Posting in the Tek-Tips forums is a member-only feature.

Click Here to join Tek-Tips and talk with other members! Already a Member? Login

Close Box

Join Tek-Tips® Today!

Join your peers on the Internet's largest technical computer professional community.
It's easy to join and it's free.

Here's Why Members Love Tek-Tips Forums:

Register now while it's still free!

Already a member? Close this window and log in.

Join Us             Close