The PMT function in Excel is a financial function used to calculates the payment of a loan based on ... (rate,nper,pv,[fv], [type]). Syntax of the PMT Function. Rate: The interest rate for ...

8] RATE. The IRR function returns the interest rate per period of the annuity. The formula for the Rate function is Rate(nper, pmt,pv, [fv], [type], [guess]).The syntax for the Rate function is below: ...

The PMT function is designed to calculate the periodic payment for a loan (assuming constant payments and interest rates). It's a fundamental tool for financial calculations in Excel.