Loan payments with PMT
Work out a loan's monthly payment with PMT, convert the annual rate and term to months, and show the payment as a positive amount.
In this lesson
=PMT(rate per period, number of payments, loan amount)returns the fixed payment, interest included.- Monthly payments: rate ÷ 12, and years × 12. If the term is already in months, use it as it is.
- PMT returns a negative number (money going out).
=-PMT(…)shows it as positive.
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Delete repeated rows from a merged list, and choose which columns decide what counts as a duplicate.
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Where it sits in Business math
- Profit margin and markup11 min
- Percentage increase and decrease9 min
- Compound interest11 min
- Loan payments with PMTThis lesson10 min
- Break-even point10 min
- Currency conversion table10 min
The steps
9 steps: 3 explanations, 3 Do this, 3 questions, then Your turn.
Try a free lesson first
Delete repeated rows from a merged list, and choose which columns decide what counts as a duplicate.
Confident · 9 min · Free, with no sign-up
Do the free lesson on your computer.
Send yourself the link and open it on a laptop or desktop.
On your computer, go tolearnford.com/go/BV7C