Microsoft Office Tutorials and References
In Depth Information
l The PMT Function
Arguments dialog box
appears.
6
Click in the cell with
the interest rate.
7
Divide the interest rate
by the number of
periods per year; for
example, type .
6
7
8
Click in the cell with
the number of periods.
8
9
9
Click in the cell with
the principal.
0
Click OK.
0
l The result appears in the cell.
Note: The result shows the amount of a
single loan payment.
Note: You can repeat Steps 1 to 10 for other
combinations of the three variables.
Did You Know?
In a worksheet, you can create a loan calculator
showing all the values at once. Place the labels
Principal, Interest, and Number of Months of a loan
period in a column. Type their respective values into
adjacent cells to the right. Use references to those
cells in the Function Arguments dialog box for PMT .
Did You Know?
Excel’s Goal Seeking feature enables you to calculate
payments. With Goal Seeking, you can set up a
problem so you specify a goal, such as payments less
than $1,100 per month, and have Excel vary a single
value to reach the goal. The limitation is that you can
vary only one value at a time. See Task #59 for more
information.
Chapter 2: Work with Formulas and Functions
35
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