In cell H13, insert a PMT function to calculate the payments for students who want to pay for their trips in three installments. Use the interest rate and months in the input area above the data. Use appropriate relative, mixed, and/or absolute cell references in the formula. Make sure the result is a positive value. Copy the function down through cell H22.
My formula is =PMT(7%/12,3,G13). My results come out negative. AM i even Right? how can i make my results positive?
Hi Kyle,
PMT function calculates the payment for a loan based on constant payments and a constant interest rate. I don't know what amount you have in cell G13, but if it is positive amount than PMT function will show negative result, if G13 is negative that you will have positive result. If you want to avoid negative amounts I suggest to use ABS(PMT(7%/12,3,G13)) function. You are mentioning that interest rate and months is in the input area so I guess you should refer to that instead of using fixed amount of 7%. But it's hard to check as you didn't share your file
Hope it helps at least a little.
Have a fantastic day
I believe what i did is right but it literally says in the prompt to make sure the result is a positive value. It also says to use a PMT formula. Unfortunately this assignment is graded by a computer not a teacher so any little thing wrong i will be docked points for.
I believe it should come out as negative, if you want it positive, times it by (-1)
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