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Function takes rate payment and loan amount and outputs a monthly loan payment amount in excel?
The PMT function in Excel outputs a monthly loan payment amount.
What function in excel takes rate payment and loan amount and outputs a monthly loan payment amount?
The PMT function in Excel outputs a monthly loan payment amount.
What is the most effective Excel formula for calculating credit card payoff?
The most effective Excel formula for calculating credit card payoff is the PMT function. This function helps you determine the fixed monthly payment needed to pay off a credit card balance within a specific timeframe, taking into account the interest rate and other relevant factors.
Which Excel function calculates the principal portion of a loan payment?
The PPMT function.
What of these in Microsoft excel should be used to determine the total value of a column containing average monthly sales for a sales department?
To determine the total value of a column containing average monthly sales in Microsoft Excel, you should use the SUM function. This function adds up all the values in the specified range of cells. For example, if your average monthly sales are in column B from rows 1 to 12, you would use the formula =SUM(B1:B12). This will provide you with the total sales for that period.
How can I use Excel to calculate and track my car loan payments?
You can use Excel to calculate and track your car loan payments by setting up a loan amortization schedule. Input the loan amount, interest rate, loan term, and start date in Excel. Then, use the PMT function to calculate the monthly payment. Create a table to track each payment, including the principal and interest portions. Update the table each month to keep track of your remaining balance and progress on the loan.
What Excel function calculates the future value an investment based periodic payments?
FV( interest_rate, number_payments, payment, PV, Type )
What is a pv cell?
PV is a function in Excel for returning the present value of an investment based on a constant interest rate and payment schedule.
Can you use the PMT function in Excel to display dates in many different formats?
The PMT function returns the payment amount for a loan, so it has nothing to do with how dates are displayed. It returns numbers.
What is the credit card payoff formula in Excel?
The credit card payoff formula in Excel is: PMT(rate, nper, -balance). This formula calculates the monthly payment needed to pay off a credit card balance in a certain number of months at a given interest rate.
What is the difference between the PMT and PPMT functions in Excel?
The PPMT function returns the amt. of interest in a specified instalment number whereas the PMT function returns the amt. of interest in every EMI payment.
What is the step function of Microsoft Excel?
There is no step function in Excel. However, you can use excel to create a Step Function Chart. See related links for a video to explain the process.
