Hi everyone. I’m a rookie working in my first business case and I have to calculate the feasibility of loaning a manufacturing device to the customers. The (example) inputs I have are basically:
> Price of the device: $ 550.000 (five hundred thousand)
> Monthy depreciation rate: 0,8%
> Contract period: 24 months
Which function could I use to calculate the montlhy payments the customers would have to pay to loan this medical device? I thought I could use the =PMT() function:
> Rate: 0,8% (monthly depreciation rate, since I can’t think of any other rate to use)
> NPER: 24 (24-month contract period)
> PV: 550.000 (price of the device)
Does this make sense, does anyone have any suggestion? Any help would be appreciated.