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how to use the pmt function in excel. PMT rate nper pv fv type The PMT function uses the following arguments. It can be used as a worksheet function WS and a VBA function VBA in Excel.
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Its an ideal function for mortgage calculations. Set up the spreadsheet with the known fixed values at the top. To use the function you need to provide the system with the interest rate on a particular loan and the number of periods of time required to pay the loan back.
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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. PMT function in Excel is used to calculate the payments that need to be paid for any loan or investment amount at a fixed rate of interest with the same constant amount. This means that you cant use the function if you want to pay different amounts at different times. The Excel PMT function makes all these complicated financial calculations very simple.
