PMTC6 12 C7 - C5. Rate required argument The interest rate of the loan. PMT one of the financial functions calculates the payment for a loan based on constant payments and a constant interest rate.
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 Excel Formula Coach to figure out a monthly loan payment. -PMT Interest RatePayments per YearTotal Number of PaymentsLoan Amount0. For this example click cell D2. -PMT C30E31E32C33 and output will be 34674.