Excel Examples

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Examples of Excel's five annuity functions

Notice that this calculated payment amount is a fraction of a cent more than
PMT ($71.5607) the pmt values used in the calculations below.
rate 3%
nper 10
pv 0
fv 10,000.00
type 0

Multiply by 12 to change this monthly rate to an annual rate. It doesn't

RATE 0.25002% exactly equal .25% because pmt was rounded to the nearest penny.
nper 10
pv 0
fv 10,000.00
type 0
pmt ($71.56)

This isn't exactly 120 months because pmt was rounded to the nearest
NPER 120.0010791 penny.
rate 3%
pv 0
fv 10,000.00
type 0
pmt ($71.56)

PV ($0.08) This isn't zero because the pmt was rounded to the nearest penny.
rate 3%
nper 10
fv 10,000.00
type 0
pmt ($71.56)

FV $9,999.90 This isn't $10,000 because the pmt was rounded to the nearest penny.
rate 3%
nper 10
pv 0
type 0
pmt ($71.56)