Error Checking in Excel
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Thread: Deferred Payment

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    Does anyone have a calculation to find a deferred payment, usually 90 days deferred? Thanks

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    The present value, the nominal number, a little more detail please...

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    hi NateO,

    I'm trying to find a formula to give me a monthly payment for a 90 day deferred loan. I can get the regular payment with the:

    PMT(rate/12,term,-loanAmount),
    that is PMT(rate,nper,pv),

    but i cant find the method to produce the monthly payment if the loan is 90 days deferred

    Hope that explains a little more?

    Thanks

    [ This Message was edited by: robfo0 on 2002-03-20 20:09 ]

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    Try:

    PMT(rate/12,3,-loanAmount)

    Where 3 = Months. My fingers are crossed.

    _________________
    Cheers, NateO

    [ This Message was edited by: NateO on 2002-03-20 20:46 ]

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    One of many different versions; your
    information is incomplete.

    =PMT(Rate/12,term*12,FV(Rate/12,3,0,-Loan,0),FV,0)


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    Nate, that doesnt work

    Dave, im getting an error with your formula (#NAME?)...are the FV's supposed to be substituted with something?
    i have the following:
    =PMT(0.1/12,120,FV(0.1/12,3,0,-15000,0),FV,0)

    Which is your formula with a 10% rate, 120 month term, and 15000 loan amount. am i doing something wrong?

    Thanks

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    I used named cells.

    Rate 6%
    term 5
    Loan 100000
    FV 0

    If you do not use named cells, substitute the relevant cell references or amounts.

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    Dave,

    This is the formula of yours I tried, but it is returning an incorrect payment amount:

    =PMT(0.1299/12,120,FV(0.1299/12,3,0,-15000,0))

    Again, I'm trying to get the 90day deferred payment for a loan amount of 15,000 , rate of 12.99%, and a term of 120 months.

    your formula returns: $231.23

    According to 5 different rate sheets (which differ by pennies) the correct payment should be about : $228.66

    Thanks again,
    Rob

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    Check help for PMT and FV

    are payments in advance or arrears?
    Do you mean 2 months deferral and then
    payment at end of next month?

    Check the real terms and then use the appropriate syntax in Excel

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