The PMT function in Excel is a financial function used to calculates the payment of a loan based on payments and interest rates. The formula for the PMT function is PMT(rate,nper,pv,[fv], [type]).

To use the PMT function effectively, it’s important to understand each of its arguments and how they relate to your specific loan scenario. Here’s a breakdown of each argument: ...

How to use PMT function in Excel Image: pexels.com Source: UGC. You can use the PMT finance function directly to calculate the size of payments on a certain loan or an investment. If you need to ...

Microsoft Excel is a powerful tool for personal and professional use. One of its advanced functions that can significantly aid in financial planning is the PMT function. PMT, or payment, is used to ...

Step 5: Use PMT Function to Calculate Loan Amount. In cell B1, enter the PMT function formula: =PMT(B2, B3, -B4). The PMT function takes three arguments: – Interest rate per period (B2) – Total number ...

Assuming there are no complexities with the loan and it is based on a standard table mortgage we can use the PMT function to calculate the monthly payments. The formula is PMT( interest_rate, ...