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Irs payment plan calculator Form: What You Should Know

Get Ready to Get Paid! Learn about IRS e-file and the ability to use your credit and debit cards to make payments, track your funds and transfer funds between accounts. Go for a Pay As You Earn (PAY) for tax year 2018. Use a debit or credit card to make tax payments on a weekly recurring basis. Learn how your payments help to reduce your tax payment.

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Video instructions and help with filling out and completing Irs payment plan calculator

Instructions and Help about Irs payment plan calculator

Hi and welcome students! Today's tutorial will cover Microsoft Excel 2016 and how to calculate a loan payment using the PMT function. The PMT function calculates loan payments based on the constant interest rate and constant payments. I'm going to use buying a car as my example for today's scenario. Let's go ahead and get started. So, I have car loans right here and I have a business loan request. Let's say that you're going out and you're going to buy a car for thirty thousand dollars, but you don't have any money. So, you need to take out a loan. Well, the loan amount is going to be thirty thousand dollars. So, I basically set up a spreadsheet here. It's very easy to set it up the same way if you want, no matter if it's a car loan, a house loan, or anything else that you might be looking at. So, right here, I put basically three columns. I have column A which is my first loan option, column B and column C, those are my three loan options right there. Let's say that I have three different options for this loan. As I said, the loan amount is right here, that's thirty thousand dollars for each of them. And then, I see that from there my numbers change a little bit. Right here is the annual interest rate, and then right here are the number of years. For instance, the first loan option says thirty thousand dollars for a six percent interest rate and five years. The next one says thirty thousand dollars, five percent interest rate, so a little bit lower of an annual interest rate, and then the number of years you have longer to pay it off. And finally, thirty thousand dollars, four percent interest rate,...