Question

In cell B9, create a payment function using the information provided in cells B2:B6. Make sure that every cell is referenced in the formula.

A B

Input Area
Cost of home	$150,000.00
Down Payment	$ 10,000.00
APR	4.00%
No. Years for Loan	30
Payments Per Year	12
Output Area
Monthly Payment	($5,600.00)

My answer: =PMT(B4,B5*B6,B2-B3)

Which comes out to $5,600.00 a month.

Is this right, because i don't think so.

Answer 1

Answer-

EMI CALCULATOR
Cost of Home	150,000
Down Payment	10,000
RATE OF INTEREST PER ANNUM	4.00%
RATE OF INTEREST PER MONTH	0.333%
NO OF INSTALLMENT	360
	62
EMI	PMT(B5,B7,B2-B3)
	668