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how to use pmt function in excel with example. Click on Formulas tab in the top Menu bar select Financial from Function Library section and double-click on PMT in the drop-down menu. The PMT function below calculates the monthly payment.
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Next click Formulas Financial PMT. The PMT function in Excel is commonly used for calculating mortgage payments. The loan is paid off in 2 years ie.
Example as Worksheet Function Lets look at some PMT examples and explore how to use the PMT function as a worksheet function in Microsoft Excel.
Excel lets a person find monthly installment on a loan amount using the function having principle amount or loan amount interest rate per month and the period of payment. With the interest rate in B1 no. In this example the PMT function is used at the top of the worksheet to calculate the monthly payment amount. The PMT function below calculates the monthly payment.
