Rate required argument The interest rate of the loan. Solution banks for textbooks. I discourage analysts from using the PMT function because its hard to remember the order of the function arguments and what they represent and because PMT makes assumptions about day count conventions in the calculation of interest that they sh.
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Also known as the principal. The PMT function can be used to figure out the future payments for a loan assuming constant payments and a constant interest rate. Formula How the Payment amount is calculated Payments calculate through a. PMT rate nper pv fv type The PMT function uses the following arguments.