Suppose you had $200,000 and wished to receive equal payments every year for 15 years, and your interest rate was 5% per year. Write the Excel formula with inputs to calculate how much the payments would be.

Name: Suppose you had $200,000 and wished to receive equal payments every year for 15 years, and your interest rate was 5% per year. Write the Excel formula with inputs to calculate how much the payments would be.
Brand: Quizplus
Rating: 4.8 (43 reviews)

Question

Quizplus · Accepted Answer

The Answer is =PMT(5%, 15, 200000)
= $19, 268.46

Suppose You Had $200,000 and Wished to Receive Equal Payments