I need to mimic the PMT functionality in Excel in Deski – basically, amortizing a loan amount. Has anyone had to do this type of function? Thanks.
TMullan 
(BOB member since 2007-03-08)
The following TVM equation is used for finding loan repayment in simplest of terms when annuity payments (loan repayments) are in constant amount
PV (1+RATE)^NPER + (1+RATE*type) PMT [{(1+RATE)^NPER} -1 ]/RATE + FV = 0
RATE is periodic thus a 10% monthly compounded rate is 10%/12 or 10/1200
type is 0 for end of period payments as in loans
type is 1 for start of period payments as in saving deposits or rental payments
FinancialEngineer (BOB member since 2013-07-02)