Excel help, please!

kellia

DIS Veteran
Joined
Oct 11, 2005
Messages
2,391
Help! I have Excel worksheets I made with formulas set up using PMT to figure out payments if we were to finance something using various months and interest rates. However, I cannot figure out how to put in an amount we owe (like a credit card) and figure out how soon it would be paid off if we paid so much a month or how much we'd have to pay to get it paid off in a certain time period. Can anyone help me? I think it's using the FV, but I didn't retain anything from my college finance class!! :rolleyes:
 
To pay it off in a certain period of time you can do something like:

=-pmt(APR/12, num_payments,amount owed)

If you want to see how quickly you would pay something off with a given payment you can use NPER
=NPER(APR/12,payment,-principle)
 













Receive up to $1,000 in Onboard Credit and a Gift Basket!
That’s right — when you book your Disney Cruise with Dreams Unlimited Travel, you’ll receive incredible shipboard credits to spend during your vacation!
CLICK HERE













DIS Facebook DIS youtube DIS Instagram DIS Pinterest

Back
Top