Formula on excel
Hello,
I have the principle, pmt and rate. I am looking at an amortization table, how can i find the term. would this be the right formula NPER(rate,pmt,pv)
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Yeah, just make sure your payment and rate are in the same time frame. so if you have a 5.5% annual rate and a $500 payment, divide 5.5% by 12 to get your monthly rate
also if this is for a loan, make your PV( principle) a negative value.
Should i use principle paid ? as my pv? or should i use my remaining balance
I am looking for the actual number of months for the amort given in this schedule
what would u do ?
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