Question

Mr. Shibu wants to take a housing loan of Rs. 2,00,000 repayable in 60 equal monthly installments over the next 5 years. Assuming that the installments are paid in the beginning of each month. Find out the amount of monthly installments. Use PMT Function.

Answer 1

Procedure: 

Step 1 – Open blank work sheet in LibreOffice Calc. Applications → Office → Libre Office Calc. 

Step 2 – Enter the following data in appropriate cells

	A	B
1	Rate	12%
2	Nper (instalments)	60
3	Pv	200000
4	Fv	0
5	Type	1
6	Monthly instaments	= PMT (B1/12,B2,B3,B4,B5)

Output :

Monthly Installments

-4,404.84