In other words to borrow 120000 with an annual rate of 310 and to pay 1100 monthly. We have offered a downloadable. Fixed Periodic Payment P rn 1 rnnt 1 rnnt 1 where P Outstanding Loan Amount.
This will help you find your work later on if you.
The following PMT formula calculates the monthly payment for a 100000 mortgage repaid over a period of 20 years at 8 annual interest. The formula for mortgage basically revolves around the fixed monthly payment and the amount of outstanding loan. We have offered a downloadable. In the example shown the formula in C10 is.