The PMT function in Excel is a financial function used to calculate a loan's payment based on payments and interest rates. Learn How to use it.

The PMT function in Excel is a powerful and versatile tool for calculating loan repayments and creating comprehensive amortization schedules. This function is essential for anyone dealing with ...

You can use PMT to calculate the interest rate in Excel. However, you also need to use NPER, PV, and FV. A typing formula looks like this: =RATE(nper,pmt,pv,[fv]) where: ...

Enter "=PMT(A1/12,A2*12,A3)-A4-A5/12" in cell A6 to calculate your monthly payment. The result appears parenthesized and red, which indicates a negative value, or cost. Advertisement ...

How Much Does It Cost to Borrow? Use This Example. Let’s say you’re comparing two $10,000 loans for 3 years at 5% interest: Even with the same interest rate, how it’s calculated affects how ...