In above formula C3C4 will calculate the monthly interest rate C4C5 will get the total number of periods C2 is the loan amount you received 1 means the first period you will pay back the loan 6 indicates the last period there are 6 periods in total and 0 indicates you repay at the end of every period. R annual interest rate 12. This formula is conceptually the same with only the PVIFA replacing the variables in the formula that PVIFA is comprised of.
All calculations made on the calculators supplied on this site together with rates quoted are guidelines only and are subject to confirmation at the time of finalising any transactions.
B2 is rate of interest. For example 10 percent divided by 12 equals 000833. Divide the interest rate by 12 to calculate the interest per month. B2 is rate of interest.