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Rounding a result
When using the PMT function to calculate a loan payment, the result I'm getting is a negative number with more than 2 decimal places.
-327.4347167 I am then taking the result, (which I have set to only 2 decimal places) -327.43 and multiplying it by the numer of payments to calculate the total of 60 payments. I'm getting -19,646.08 and it should be -19,645.80 This result I'm getting seems to be using is using those numbers that should have been rounded off. How do I round off the result to a number with 2 decimal places and use only the rounded number to perform other calculations? This is my example: Interest_Rate - 3.05 Loan_months - 60 Loan_Amount - 18,200.00 Here's my formula to calculate the payment: =PMT(Interest_Rate/12,Loan_Years,(Loan_Amount)) Here's my formula to calculate the total of payments: =-Loan_Months*Scheduled_Monthly_Payment |
#2
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Rounding a result
Hi
you probably have only changed the format (the display). To really round use =ROUND(your_formula,2) -----Original Message----- When using the PMT function to calculate a loan payment, the result I'm getting is a negative number with more than 2 decimal places. -327.4347167 I am then taking the result, (which I have set to only 2 decimal places) -327.43 and multiplying it by the numer of payments to calculate the total of 60 payments. I'm getting -19,646.08 and it should be -19,645.80 This result I'm getting seems to be using is using those numbers that should have been rounded off. How do I round off the result to a number with 2 decimal places and use only the rounded number to perform other calculations? This is my example: Interest_Rate - 3.05 Loan_months - 60 Loan_Amount - 18,200.00 Here's my formula to calculate the payment: =PMT(Interest_Rate/12,Loan_Years,(Loan_Amount)) Here's my formula to calculate the total of payments: =-Loan_Months*Scheduled_Monthly_Payment . |
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