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How to calculate pmt in excel...
How to calculate pmt without excel
How to use PMT function in Excel with formula examples
The tutorial shows how to use PMT function in Excel to calculate payments for a loan or investment based on the interest rate, number of payments, and the total loan amount.
Before you borrow money it's good to know how a loan works.
Thanks to the Excel financial functions such as RATE, PPMT and IPMT, computing the monthly or any other periodic payment for a loan is easy. In this tutorial, we will have a closer look at the PMT function, discuss its syntax in detail, and show how to build your own PMT calculator in Excel.
What is the PMT function in Excel?
The Excel PMT function is a financial function that calculates the payment for a loan based on a constant interest rate, the number of periods and the loan amount.
"PMT" stands for "payment", hence the function's name.
For example, if you are applying for a two-year car loan with an annual interest rate of 7% and the loan amount of $30,000, a PMT formula can tell you what your monthly payments will be.
For the PMT function to work correctly in your worksheets, please
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