回复：回复：go ahead & post

It's the right formula, but you have a small error there. The 1 at the end of your formula means that you plan to keep 1 dollar after your last loan payment, which is probably not what you intended.

With regard to the clause "assuming constant payments and interest rate", it's indeed a needed clarification. Previously it gave you the annual rate 5%, which would be the rate compounded from the monthly rates, but did not say that the monthly rates would be identical until this point. Similarly, it stated that the payment would be monthly, but did not say that the payment each month would be identical until now. Making sense?

The answer should be:
=PMT(0.05/12,12,1100,0,0)
Assuming you start to payback at the end of the first month;

=PMT(0.05/12,12,1100,0,1)
Assuming you start to payback at the beginning of the first month (which does not make much sense in most cases)

Hope that helps and good luck.

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