to get the same answer from a normal calculator

S

shabeer

I am sales executive for a bank in UAE.My product is Personal
Loan. I am normally using the Ms Excel worksheet to calculate the monthly
installment for my clients.
Sometimes,i have to use my calculator to get the installment.
So how can i calculate the following formula with a normal calculator
=PMT(B6/12,C6,-A6)=3,014.78

B6=9.5% (Reducing Interest Rate per annum)
C6=48 months ie,4 year(Period for the Loan)
A6=120000 (Loan Amount)

I want to get the same answer (3,014.78) with a normal calculator.I expect
u will do the necessary and oblige

Yours Faithfully,
Shabeer
Uae
Mob No +971503842668
(e-mail address removed)(u can send the answer to this id)
 
J

Jerry W. Lewis

Help for PV gives the equation that Excel employs for its financial functions.

Jerry
 

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