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how to use pmt formula in excel. Using the function PMTrateNPERPV PMT5123012180000 the result is a monthly payment not including insurance and taxes of 96628. The PMT function below calculates the monthly payment.
How To Use Pmt Function In Excel For Calculating Emi Excel For Beginners Excel Calculator from www.pinterest.com
To figure out how much you must pay on the mortgage each month use the following formula. As the monthly payments are paid out they are entered into the function as negative values. Use the formula in B6 cell PMT B212C2A2 You must be wondering why Interest rate is divided by 12 as Applying the formula in the cell.
If your values are slightly different input them with the appropriate cell numbers.
The PMT function in Excel is commonly used for calculating mortgage payments. Using the function PMTrateNPERPV PMT5123012180000 the result is a monthly payment not including insurance and taxes of 96628. For example if you take a loan of 10000 at 6 annual interest over 4 years you can use the PMT function to calculate what the monthly payment on the loan will be. Use the formula in B6 cell PMT B212C2A2 You must be wondering why Interest rate is divided by 12 as Applying the formula in the cell.
