In cell B11, create a formula using the PV function to determine the outstanding balance of the campground mortgage at the end of the current year using the parameters below:
a. For the rate parameter, use the value in cell B5 (the yearly interest rate of the mortgage) divided by 12.
b. For the nper parameter, subtract the value in cell B10 (the current year of the mortgage) from the value in cell B6 (the total number of years of the mortgage), and multiply that by 12.
c. For the pmt parameter, use the value in cell B7 (the monthly payments), putting a negative sign before this value to make the outcome of the PV function positive.
Every time I enter this formula it gives me an error:
=PV(B5/12)B10*12-B7
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