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What is Excel PMT Function Explained about?

The PMT function in Excel calculates the periodic payment for a loan based on constant payments and a constant interest rate. It requires inputs such as the interest rate, total number of payments, and present value of the loan. Optional parameters include future value and payment type, with an example illustrating its use for a loan of $5,000 at an annual interest rate of 7.65% over 2 years.

Author

Delrose Coburn

Language

EN