PMT (Payment) Function Documentation Error (SS)

This information was provided by Claris Corporation on 16 March 1998, and incorporated into Apple Computer's Tech Info Library.
ClarisWorks 1.0
The first manual for ClarisWorks 1.0 (labelled U91-600-006A on the back of the cover) has an error in the example for the PMT function. The example shown is:

PMT(10%/12,36,-2000,12000) returns a -$222.67 in a currency number format.

This example is trying to show a purchase made over 3 years at 10% with a $2,000 down payment, but improperly shows the use of the function. The proper use and example is shown in the second manual for ClarisWorks 1.0 (labeled U91600-006B on the back of the cover), and is as follows:

PMT(10%/12,36,12000-2000) returns a -$322.67 in a currency number format.

ClarisWorks 2.0
The first 2.0 manual (labelled U92600-012A) also has an error in the example for the PMT function. The example shown is:

PMT(10%/12,36,12000,-2000) returns -$339.34 in a currency number format.

The correct formula and result is:

PMT(10%/12,36,12000-2000) returns -$322.67 in a currency number format.

Published Date: Feb 18, 2012