The PMT function, one of Excel's Financial functions, is used to calculate the payments for the future value of an investment or loan.
Syntax
“= PMT ( rate , nper , pv , fv , type )” without Inverted comas
rate - the annual interest rate for the loan.
nper - the total number of payments for the loan.
pv - the present value or the amount borrowed or the "principal of the loan.
fv - future value - for a loan this will be $0.00. For loans this argument can be omitted.
type - indicates when payments are due:
"0" (or omitted) - at the end of the period ie: end of the month.
"1" - at the beginning of the period ie: beginning of the month.

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