Question

Riya took a industrial loan of Rs. 300000, repayable in 4 years (equal monthly installments). The annual rate of interest is 10%. Assuming that the installments are paid at the end of each month. Find out the amount of monthly installments. Use PMT Function.

Answer 1

Procedure: Step 1 – Open a blank work sheet in LibreOffice Calc. Application → Office → Libre Office Calc. 

Step 2 – Enter the following data in appropriate cells.

Output:

Monthly Installments

-7608.78