In cell C8, we will begin writing the formula by pressing = and then writing PMT. Now to calculate the monthly payment, we will input all the data points in the function as below: Supp+ose we have taken a home loan for $2,00000 for 10 years at a 6% interest rate. Let’s take an example to understand how this function works. Now, we will see how to use the PMT function to calculate the monthly payment. How to Use the Formula to get the Amount Monthly Payment? ![]()
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