PMT Function for Excel in Calculations Field

  • Resolved wpidl

    (@wpidl)


    2 months, 1 week ago

    Hi,
    The PMT Formula works in Excel, but does not work in Forminator, since I cannot add “,” for different sections. Can you help me with how to translate Excel function into calculation field?

    The formula is =PMT(15%/12,1*12,100000), where I have interest ot 15%, for min. 12 max. 60 months and loan of 100 000.
    Where?PMT(rate, nper, pv) is:
    Example?=PMT(4.5%/12,30*12,250000)
    The?PMT?function has the following arguments — the first three are always required:
    Rate?(Required) The interest rate for the loan. For monthly payments, divide this by 12.
    Nper?(Required) The total number of payments for the loan. For monthly payments, multiply this by 12.
    Pv?(Required) The present value, or the total amount that a series of future payments is worth now; also known as the principal. In other words, the loan amount.

    The page I need help with: [log in to see the link]

Viewing 2 replies - 1 through 2 (of 2 total)
  • Plugin Support Williams – WPMU DEV Support

    (@wpmudev-support8)

    Hi @wpidl

    I hope you’re well today!

    Forminator doesn’t have built-in support for PMT function.

    I’m not much of an Excel user and am not familiar with this kind of calculation but Google search responds that the actual calculation behind the PMT function is:

    P = (Pv*R) / [1 – (1 + R)^(-n)]

    This operands (except for square brackets) seem to be all supported so assuming you substitute values of above equation with relevant form fields, you can do this:

    – add one calculation field (let’s say it’s calculation-1)with this calculation only

    1 – (1 + R)^(-n)

    – and add another calculation field (let’s say it’s calculation-2) with this calculation then

    (Pv*R) / {calculation-1}

    As a result, calculation-2 should give you result just like PMT function, if I correctly understand it.

    However, note please that I cannot take responsibility for that and you would need to test it thoroughly first to make sure it actually does work correctly. It seems it should be you’d need to confirm that before using it on a live site.

    Kind regards,
    Adam

    Thread Starter wpidl

    (@wpidl)

    Thank you, I’ll try it out.

Viewing 2 replies - 1 through 2 (of 2 total)
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