Replies: 2
Hi,
The PMT Formula works in Excel, but does not work in Forminator, since I cannot add “,” for different sections. Can you help me with how to translate Excel function into calculation field?
The formula is =PMT(15%/12,1*12,100000), where I have interest ot 15%, for min. 12 max. 60 months and loan of 100 000.
Where PMT(rate, nper, pv) is:
Example =PMT(4.5%/12,30*12,250000)
The PMT function has the following arguments — the first three are always required:
Rate (Required) The interest rate for the loan. For monthly payments, divide this by 12.
Nper (Required) The total number of payments for the loan. For monthly payments, multiply this by 12.
Pv (Required) The present value, or the total amount that a series of future payments is worth now; also known as the principal. In other words, the loan amount.