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pmt function formula in excel. PMT formula in Excel has the following arguments. Interest is charged at a rate of 5 per year and the loan payments are made at the end of each month.
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Click cell B6 in the Car Lease Payments worksheet. The formula in C10 will look like PMT C612 C7-C5. How The PMT Function in Excel Works.
This tool can be extremely helpful if you need to make some calculations and do not want to waste time in a bank.
Rate required argument The interest rate of the loan. Result PMTA212A3A4 Monthly payment for a loan with terms specified as arguments in A2A4. The PMT function is much simpler than other Excel functions like Index or Vlookup. The function that will be used here in the payment function abbreviated by Excel as PMT.
