Tech Support Guy banner

Help with excel PMT and Average

3091 Views 11 Replies 3 Participants Last post by  The Villan
Hi all I am using Excel and i am trying to work out how to do the following:


I am doing a Excell excersize for college (to be handed in when we return) and I have to use the 'PMT' function to calculate the monthly repayments of a loan in the spreadsheet - How is this done. MS Online does'nt seem to be very helpful :S

with my calculations () It has came up with -£132 per month as payment which is obviously not right can anyone advise on the formula I shound be entering the spreadsheet states:

Loan amount £10,000
No. of Years 10
Annual interest rate 10%
Monthly repament = ?

The other problem with another spreadsheet i am having is I don't know how to get the average of something AND round it to the nearest whole number can anyone advise on how this would be done ?

Thanks
Status
Not open for further replies.
1 - 4 of 12 Posts
DrBob said:
..
The other problem with another spreadsheet i am having is I don't know how to get the average of something AND round it to the nearest whole number can anyone advise on how this would be done ?
You find yourself in a very precocious situation here. Actually rounding the numbers will truncate the number as Excel deems fit (through the necessary algorithm of the round function you give it, which all behave slightly different). There is a difference between a format and a value (e.g. ROUND, ROUNDUP, ROUNDDOWN, TRUNC, INT, CEILING, FLOOR, etc). A format is how you want to show your value. You can have a value show two decimal places, but it may in fact be more than that. What happens if you round that? You take away a portion (or add to it) which can be compounded and give you differences of pennies, but it all adds up.

HTH
Yes, DrBob will need to decide, just wanted to make sure that s/he knew the difference between the two, or even that there was a difference between the two. That always seems to be a common misconception about Excel/computers.
Perfectly. :)

Btw, hope you had a good new years Villan. :)
Yes, very good one for me. Spent with the family. And I didn't even make it to one! LOL!

Okay DrBob, I'll try not to hijack your thread anymore. :cool:
1 - 4 of 12 Posts
Status
Not open for further replies.
Top