Financial Function: PMT

3. Try it: Use a Financial Function

Select Cell B4.

Go to Formulas->Function Library.

Go to Financial. Click on PMT.

When you see the Function Arguments:

Edit the Rate: B3/12

Edit the Nper: B2

Edit the Pv: B1

Keep going, please...

 

Memo to Self: The Yearly Rate is divided by 12 to get the Monthly Rate

Formulas-> Function Library-> Financial-> PMT

Exam 77-888: Microsoft Excel Expert 2010

2. Applying Formulas and Functions

2.4. Apply functions in formulas: FINANCIAL Functions PMT