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formula to calculate monthly payment excel. Currently from there select the Rate Nper as well as Pmt as determined above. In this formula the result of the PV function is the loan amount which is then subtracted from the purchase price to get the down payment.
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Payment per Period. Find the PMT Excel formula and insert it by clicking OK 4. Currently from there select the Rate Nper as well as Pmt as determined above.
Be sure you are consistent with the units you supply for rate and nper.
To do this well divide the interest rate by the number of periods in this case 12 to find the monthly interest rate. The payment returned by PMT includes principal and interest but will not include any taxes reserve payments or fees. Insert a formula by clicking the Formulas tab at the top of Excel then clicking Insert Function. Payment per Period.
