Forum Discussion
Problems wit PV function
So I am using the PV function to calculate a loan amount in a spread sheet and I cannot get it to return a correct value. Keep in mind I began doing spreadsheet with Visicalc in 1983 and have been us...
Thank you Hans. As I mentioned I have been doing this since 1983 and also since Excel has been in existence. I have the formula right but there is some sort of glitch in the 365 version. I cannot figure irt out. HansVogelaar
| Eligible for Principal & Interest | -2840 | ||
| Rate | 0.67 | 8 | % * |
| Term (months) | 360 | * | |
| Loan Amount | $51,120.00 |
Either enter 8% in the cell with the yearly interest rate, or if you prefer to keep it at 8, divide the result of the formula for the monthly interest rate by 100: it should return 0.67% or 0.0067