Click cell B6 in the Car Lease Payments worksheet. Rate required argument The interest rate of the loan. Nper required argument Total number of payments for the loan taken.
The PMT function which stands for Payment is one of Excels financial functions.
Written by co-founder Kasper Langmann Microsoft Office Specialist. In the following spreadsheet the Excel Pmt function is used to calculate the monthly payments on a loan of 50000 which is to be paid off in full after 5 years. PMT rate nper pv fv type. This tool can be extremely helpful if you need to make some calculations and do not want to waste time in a bank.