EXCEL PMT function

[Brent]

I am having trouble with PMT function. I input all the
numbers where they are supposed to be and then I get an
off the wall number. I have several financial
calculators so I know what the answer is but not sure how
to get with pmt function. Unless there is a trick to
inputing the numbers. Please help!

 

[Rick C]

Can you give an example of your inputs and off-the-wall output?

 

[RSnyder]

Be sure you are entering you formula in correctly as
=PMT(rate,duration,present value,future value,type)
Make sure the present and future values are entered as
negative. Make sure rate represents the rate based on the
types of duration periods, ie., a 5% annual rate is
a .41667% monthly rate (based on 12 months per year).
Future value defualts to zero if left out and type to zero
for payment at end of payment term.