How to calculate ppmt manually

Subscribe Now:youtube.com/subscription_center?add_user=ehoweducationWatch More:youtube.com/ehoweducationThe future value equation is an To figure your mortgage payment, start by converting your annual interest rate to a monthly interest rate by dividing by 12. Next, add 1 to the monthly rate. Third, multiply the number of years in the term of the mortgage by 12 to calculate the number of monthly payments you'll make. •interest_rate is the interest rate for the investment. •period is the period to calculate the interest rate. It must be a value between 1 and number_payments. •number_payments is the number of payments for the annuity. •PV is the present value of the payments. •FV is optional. It is the future value that you'd like the investment to be 1 - payments are due at the beginning of each period. For example, if you borrow $100,000 for 5 years with an annual interest rate of 7%, the following formula will calculate the annual payment: =PMT (7%, 5, 100000) To find the monthly payment for the same loan, use this formula: =PMT (7%/12, 5*12, 100000) I need a pv formula which I'm sure has an IF function: Rate=B5/12 nper= subtract cell b10 from b6 and multiply by 12 pmt= negative B7 My answers should be 255,022.95 284,573.82 185,040.73 43,562.09. Solved by F. F. in 26 mins. In cell B5, insert the PMT function using the data from the range B2:B4—be sure to divide the interest rate by 12 Calculating the Payment in an Ordinary Annuity (PMT) Present value calculations allow us to determine the amount of the recurring payments in an ordinary annuity if we know the other components: present value, interest rate, and the length of the annuity. Exercises 5 and 6 will demonstrate how to solve for the payment amount.