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how to use excel pmt formula. A PMT formula in Excel can compute a loan payment for different payment frequencies such as weekly monthly quarterly or annually. Top simple ways on how to count unique values.
Short Excel Tutorial On How To Use The Payment Function To Calculate Loan Payment Amount Pmt Excel Tutorials Microsoft Excel Tutorial Excel from www.pinterest.com
To calculate a loan payment amount given an interest rate the loan term and the loan amount you can use the PMT function. In this case thats the loan amount and the number of payments. Use the formula in B6 cell PMT B212C2A2 You must be wondering why Interest rate is divided by 12 as Applying the formula in the cell.
PMT function is an advanced excel formula and one of the financial functions used to calculate the monthly payment amount against the simple loan amount.
The PMT function below calculates the quarterly payment. Syntax of PMT Function PMT Rate NPER PV FV Type. Top simple ways on how to count unique values. We make quarterly payments so we use 64 15 for Rate and 204 80 for Nper total number of periods.
