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newboy1218
Quartz | Level 8

Hi, I used the SAS FMT function and Excel PMT function with the same inputs but they gave me different output.. Why is that?

 

SAS:

data aa;
	PMT = round(pmt(0.008325, 24, 1750.37, 437.5925), 0.01); 
run;

Output: 64.21

 

Excel:

 AB
1pv1750.37
2fv437.5925
3amortization24
4interest0.0999

Formula: =PMT(B4/12,B3,B1,B2)

Output: 

($97.31)
1 ACCEPTED SOLUTION

Accepted Solutions
PaigeMiller
Diamond | Level 26

And then, like a flash from the heavens (which happens a lot here in Buffalo, NY), the answer came to me:

 

In Excel, if you set FV= –437.5925, it matches what SAS gives when FV=437.5925. Go figure!

--
Paige Miller

View solution in original post

3 REPLIES 3
PaigeMiller
Diamond | Level 26

Something not making sense to me here. If you set FV to zero, then SAS and Excel give the same answer. That's good. But then if you set FV to 437.5925, you would expect payment amount to go down, and in SAS it does.

 

data aa;
	PMT1 =pmt(0.0999/12, 24, 1750.37,0); 
	PMT2 =pmt(0.0999/12, 24, 1750.37,437.5925); 
run;

 

 

In Excel the payment amount goes up when FV=437.5925 compared to when FV=0, which as far as I understand things, is wrong.

--
Paige Miller
PaigeMiller
Diamond | Level 26

And then, like a flash from the heavens (which happens a lot here in Buffalo, NY), the answer came to me:

 

In Excel, if you set FV= –437.5925, it matches what SAS gives when FV=437.5925. Go figure!

--
Paige Miller
newboy1218
Quartz | Level 8

yeah and I also tried using the FINANCE PMT function.. when I do 

 

 

PMT4 = finance('pmt', 0.008325, 24, 1750.37, -437.5925);

it will give me -64.21491967, but if I do:

 

PMT4 = finance('pmt', 0.008325, 24, 1750.37, 437.5925);

it will give me -97.31031261..

 

Does anyone know why I need to put a negative sign in front of the FV when I am using Excel or FINANCE PMT functions?

 

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