Simple, you have to provide the function of basic information, including loan amount, interest rate, and duration of payment, and the function will calculate the payment as a result.The payment amount calculated by this PMT excel formula returns the amount without taxes, reserve payments, fees (sometimes associated with loans).If you are making a monthly payment in this PMT excel function, then you should convert the rate at a monthly rate and should convert the nper in a month too.
Create A Function In Excel How To Use ThisLet us now see how to use this PMT excel function with the help of some examples.
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