Personal Finance

# lease formula calculation in Excel..

• Last Updated:
• Feb 8th, 2012 8:19 am
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[OP]
Dec 29, 2005
1133 posts
Mississauga

## lease formula calculation in Excel..

Please help Excel expert if possible... I would like to do this in excel as i want to play around with any of the variable.... My concern is that my formula is not correct...

Equipment Costs: 275,000
Estimate Mkt. Value at End of Lease: 27,500
Lease Rate: 8%
Lease Terms (Yrs): 5
Payment Periods: 60
Monthly Lease Payments: (5,357) <==PMT(C7/12,C9,C5-C6,C6,1) formula

C7 = 8%, C9 = 60, C5 = 275K and C6=27.5K

I used this website.. and the amount for lease payment is not the same..

http://gecapitalsolutions.ca/en/tools/lease.asp#result

Summary
Lease Start Date: 03/01/2012
Interest Rate: 8%
Number of Periods (in months): 60
Total Amount Financed: \$ 275,000.00
Total Payments: \$ 310,037.40
Monthly Payment: \$ 5,167.29
Purchase Option: \$ 27,500.00

(Sorry if I posted in the wrong forum....)
4 replies
Deal Expert
Nov 2, 2003
15500 posts
GTA
not allowed to ask for help with homework on this forum.
Member
Oct 5, 2009
469 posts
Calgary
edit: sorry thought it was for mortgage
Deal Expert
Nov 2, 2003
15500 posts