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]).

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.

Annuity, bond, mortgage and other complex financial calculations can be mathematically challenging, so Microsoft included 53 related functions in Excel. The PMT () function, for example ...