Mwaitaputapu has borrowed 50,000,000 to be repaid in five equal amount (interest and principle). The rate of interest is 16 per cent. Can I compute the amount of each installment?

Md Ariful Islam

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Dr. Md Rushad Rahman

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Using Excel, click on any cell, click on fx then click on the PMT function. A dialog box will open. Put 5%/12 in the Rate section, put 12 in the Nper section, and -2455 in the PV section. The other sections can be left blank. The answer will be rounded to $210.17 per month.

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