How to Calculate PMT in Excel
Microsoft Excel 2010 contains hundreds of functions and formulas to assist with data calculation. The data calculations can occur on numerical and alphabetical data. When calculating payments, users can utilize the payment--or PMT--function. The PMT function uses variables like interest rate, loan payments and values of the current loan to determine the payment. Once the variables are in place, Excel returns the approximate payment for the loan.
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Instructions
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Open Excel 2010, and click the "fx" button on the formula bar. Type "PMT" to locate the PMT function. Press "Enter" on the keyboard. Click the "PMT" function.
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Add the variables to the PMT function. Enter the current interest rate for the loan in the "Rate" section. Enter the number of payments in the "Nper" section.
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Enter the present value of the loan in the "PV" section. Click "Ok" to see the loan payment appear in the Excel worksheet.
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