The PMT function in Excel is a financial function used to calculates the payment of a loan based on payments and interest rates. The formula for the PMT function is PMT (rate,nper,pv, [fv], [type]).

Key Takeaways : The PMT function in Excel is essential for calculating loan repayments and creating an amortization schedule. The PMT function computes loan payments based on constant payments and ...

PMT is short for Payment. On the Excel screen, this function can be found using the command fx and under the category ‘Financial’. Here’s an example of how PMT can be used.