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math behind excel pmt function. However we know it is not complete as Excel for example allows for two other factors to the calculated payment amount. To solve for the interest rate the formula is.
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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. Interest is charged at a rate of 5 per year and the loan payments are made at the end of each month. Iteration eg using one of the above formulae.
In Excel the PMTfunction returns the payment amount for a loan based on an interest rate and a constant payment schedule.
The Pmt function returns the payment amount for a loan based on an interest rate and a constant payment schedule. The PMT function syntax has the following arguments. Otherwise you can only solve for the interest rate through. This is the Syntax.
