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how to calculate pmt function in excel. The key question for most people when taking out a car loan is What will my monthly payment be Fortunately Excel has been around the block a few times with this kind of question and there is a special function just for this calculation called PMT. The second argument specifies the payment number.
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The key question for most people when taking out a car loan is What will my monthly payment be Fortunately Excel has been around the block a few times with this kind of question and there is a special function just for this calculation called PMT. The PMT function below calculates the monthly payment. Nper - The total number of payments.
We make monthly payments so we use 512 for Rate and 212 for Nper total number of periods.
PMTC5 12 C6 12 - C9 When assumptions in column C are changed the estimated payment will recalculate automatically. PMT one of the financial functions calculates the payment for a loan based on constant payments and a constant interest rate. PMT rate nper pv fv type rate The interest rate per period. This is just EMI that we pay for our loan or invested amount when we opt for any policy or loan from a bank.
