Microsoft Excel How to do a quick loan using PMT.

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Presentation transcript:

Microsoft Excel How to do a quick loan using PMT

How Microsoft Excel PMT function works You may reference the annual interest rate, number of months of payments and amount of loan as individual numbers or references to amounts in cells Note that the interest rate is entered as a percentage value (e.g. 8%) divided by the number of months in a year into the PMT formula. The number of months of payments are the total number. E.g. a 5 year loan is 60 Finally, the amount of loan is just entered as a number Example