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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.

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4mo ago

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What is the Excel credit card payoff formula for calculating the amount needed to pay off a credit card debt?

The Excel credit card payoff formula is PMT(rate, nper, -balance). This formula calculates the monthly payment needed to pay off a credit card debt within a specific time frame.


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.


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