Calculate payments based on APR

[Robert T. Repko (R Squared Consultants)]

Believe it or not at 4/12/2009 10:46 PM, Kenneth Brody said:
>Robert T. Repko (R Squared Consultants) wrote:
>>Does anyone have a routine that calculates monthly payments based on an APR.
>
>Would the TVM_PMT() function do what you're looking for?


I looked at that function but it gives me a different answer than the 
calculators I've used for finding payments based on an APR.  Before I 
started working on the program I used calculators on the Internet so 
I would know what answers I was supposed to get.  I used $1000.00, 
13.9%, for 12 months, compounded monthly.  Using TVM_PMT() I get a 
monthly payment of 84.09, with a calculator I get 89.74.  The 
description doesn't mention if it's simple or compound interest.