How do I find the monthly payment for this question: On the Loan worksheet, in cell C9, enter a PMT function to calculate the monthly payment for the Altamonte Springs 2018 facilities loan. Ensure that the function returns a positive value and set the references to cells B5 and B6 as absolute references. Interest rate is 4.5% Number of payments is 12 cost of altamonte facilities is $16,450.95

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Business

Reggie

18 January, 08:13

How do I find the monthly payment for this question: On the Loan worksheet, in cell C9, enter a PMT function to calculate the monthly payment for the Altamonte Springs 2018 facilities loan. Ensure that the function returns a positive value and set the references to cells B5 and B6 as absolute references. Interest rate is 4.5% Number of payments is 12 cost of altamonte facilities is $16,450.95

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Carla Ross · Answer 1

on an excel spreadsheet you have the following values:

n = 12 interest rate = 4.5% principal = $16,450.95

since I don't know which values correspond to B5 and B6, I will guess that they are n and interest rate.

=PMT (4.5%,12,-16450.95) or = PMT ($B$5,$B$6,-16450.95)

= $1,804.11

*The $ sets the cell as absolute reference. If you input 16450.95, the value will be negative.