The syntax of the PMT function is PMT(rate,nper,pv[,fv=0][,type=0]).

Question

The syntax of the PMT function is PMT(rate,nper,pv[,fv=0][,type=0]). ​

Quizplus · Accepted Answer

The PMT function in Excel calculates the payment for a loan based on constant payments and a constant interest rate, and its syntax is indeed PMT(rate, nper, pv[, fv][, type]), where 'rate' is the interest rate for each period, 'nper' is the total number of payments for the loan, 'pv' is the present value or total amount of the loan, 'fv' is optional and represents the future value or a cash balance you want to attain after the last payment is made (default is 0), and 'type' is optional and indicates when payments are due (0 at the end of the period, 1 at the beginning, with 0 being the default).

The Syntax of the PMT Function Is PMT(rate,nper,pv[,fv=0][,type=0]). ​

The Syntax of the PMT Function Is PMT(rate,nper,pv[,fv=0][,type=0]).