Help!!!! Financial Function Problem

[nickjohal]

I am currently having a problem trying to write a formula that will calculation the monthly payments that are required to produce 50,000 savings at an interest rate of 6% in 20 years..thank you for your help in advance.

nick

[ernst]

Hi Nick,

I think the PMT function is meant for this kind of calculation.

The syntax is:

PMT (principal, interest

[nickjohal]

Thanks for your help Ernst,

I have tried the PMT calulation in excel & FM works fine in excel but I cannot get it to work in FM.

nick

[ernst]

Hi Nick,

Did You try:

PMT (50000, -0,005 , 240)

Ernst.