calculate monthly payments (TVM_PMT)

[Kenneth Brody]

Dennis Malen wrote:
> Perhaps I misundstand how this formula is to be used. I created a program in 
> filepro that calculated the monthly payment on a mortgage. We have used it 
> for years. My answer comes in at $89.74. I asked someone else to verify on a 
> calculator. They came up with the same answer.
> 
> I am also providing a copy of the original email which also indicated they 
> got $89.74.
[...]
>>     xx(8,.2) = tvm_pmt("12","13.9"/"12","1000","0")
>>
>> gives me "-89.74", just like your calculator.
[...]

Please re-check the code you posted:

     tc(10,.2)=TVM_PMT("12",".139"/"12","1000","0")

Notice the difference?

If you want the same answer, ask the same question.

-- 
Kenneth Brody