PMT Function



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How to make Payment in Ms Excel with PMT Function

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PMT Function --
Calculates the payment for a loan based on constant payments and a constant interest rate.


Syntax --
PMT(rate,nper,pv,fv,type)

The arguments in the syntax are defined as follows --

Rate : is the interest rate for the loan.

Nper : is the total number of payments for the loan.

Pv : is the present, also known as the principal.

Fv : is the future value.

Type : is the number 0 or 1 and indicates when payments are due
[0 - At the end of the period
1 - At the beginning of the period]