I do this below for a 200000 mortgage with biweekly payments made over the course of 25 years. Exercises 5 and 6 will demonstrate how to solve for the payment amount. The interest rate here is 3 per year but because the payments are biweekly you need to divide the 3 by 26 the number of biweekly payments made per year.
I do this below for a 200000 mortgage with biweekly payments made over the course of 25 years.
N Total number of interest periods interest periods per year number of years Using the variables above the Excel PMT function is PMT RnPv So for your example where. The PMT function below calculates the monthly payment. However aside from in the database I also need to do this in c but Im getting Scientific Notations which I cannot format or convert to decimals. The stimulus payment formula We want to show you the calculation at work and how the math changes for people who claim dependents.