Excel Formula?

How do I figure the monthly payment of something next to a 10% interest rate over the course of 3 years? Is there a formula to use for figuring this out? HELP!

Answers:    To digit out what your monthly payment in excel would be you would input the following:

=(amount*1.10)/36

This would grant you what your monthly payment would be for those 36 months. Unless you had a downpayment or balloon transmittal on the end or something like that.
Use the PMT formula. For example, put the loan amount within cell A1, the number of months in A2, and the interest rate in A3. The formula within another cell would be:
=PMT(A3/12,A2,-A1)
The A3/12 just gives the monthly interest rate. This is a spur-of-the-moment way to do amortization schedules and amount out the monthly cost of various mortgages. Hope that helps.
The first answer above is wrong.

Every $1 per month pays for 41.84 of loan .
So if you borrow, speak, $3000 you will have to pay
3000 / 41.84 = 71.70 per month
try this:

http://www.vlender.com/cgi-bin/calc/simp...

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