PMT has the following structure:
PMT( rate, nper, pv, fv, type )
Rate is the interest rate for the loan.
Nper is the total number of payments for the loan.
Pv is the present value, or the total amount that a series of future payments is worth now; also known as the principal.
Fv is the future value, or a cash balance you want to attain after the last payment is made. If fv is omitted, it is assumed to be 0 (zero), that is, the future value of a loan is 0.
Type is the number 0 (zero) or 1 and indicates when payments are due.
No, it has five arguments. Two of them are optional.The syntax for the PMT function is:PMT(interest_rate, number_payments, PV, FV, Type)The FV and Type arguments are optional.
Commas.
The FV and Type arguments are optional in the PMT function.
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The PMT function.
Commas are used to separate arguments in Excel functions.
Divide both values by 12
The PMT function returns the payment amount for a loan, so it has nothing to do with how dates are displayed. It returns numbers.
Please explain more clearly
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.
Each function in Excel that has arguments will differ in terms of what arguments are needed. The help for a particular function will indicate what arguments may be needed. Some functions can be used in different ways and may not always need all arguments.
Arguments