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Ashley
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Financial Calculator
P r
n
t
Formula
8,555
0.022
12
8
For each of the following use the financial calculator you just made for the first cell in each.
Here we will practice with some formulas that you will often need to use throughout this class. If you format these correctly, then the computed values should inherit the correct formatting.
Periodic payment on a loan of $P at APR r% compounded n times per year. Again, often n = 12 and the period is a month.
Compute the monthly payments to pay back a loan of $2200 in 5 years an APR of 20.29% compounded monthly. Find the total amount payed on the loan and the interest payed.
PMT = 𝑃⋅(𝑟/𝑛)/(1−(1+𝑟/𝑛)^(−𝑛⋅
