It's taking the principal, interest rate and # of payments from their respective fields, but the calculated result is incorrect.
Thought maybe I should add to this post, so it is a little clearer. If PMT = ( principal ; interestRate ; term ) ..... do you need to customize the related fields? I have a field for each of these that I am using, but maybe "term" needs to be defined?? I am currently using # of pymts for that.
My calculated field is simply "PMT ( amountField ; interestField ; termField )".
My amountField, interestField and termField are all number fields.
For instance, I entered $35,000 in the amount field, .07 (7%) in the interest field and 24 in the term field and the calculated result is $3,052 when it should be $1,567.04. I'm sure I'm missing something obvious ... just don't see what it is at the moment ....
The interestRate parameter is the rate per payment period. Since your rate of 7% is the annual rate, and there are 12 periods in a year, you need to do =
PMT ( amountField ; interestField / 12 ; termField )
Thank you!! :smileyvery-happy: