The formula for the PMT function is PMT(rate,nper,pv,[fv], [type]). In this tutorial, we want to find the monthly payment. Open Microsoft Excel. Use an existing table or create a table.

Fv: Future value or balloon payment (e.g., $50,000). Type: Payment timing (0 for end of period). The PMT function in Excel is a powerful and versatile tool for calculating loan repayments and ...