Tag Archives: Excel PMT formula

Use Excel PMT Formula to Determine Loan Interest

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We start out with a basic premise that we borrow $10,000.00 (D1). Our interest is 3.0% (D2) and the monthly payments are forty-eight months (D3). The PMT formula calculates what to pay back on a monthly payment loan. There are three arguments in this function; RATE,NPER,PV. Two other arguments shown are not required for a…
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