The PMT function in Excel is a financial function used to calculates the payment of a loan based on payments and interest rates. The formula for the PMT function is PMT (rate,nper,pv, [fv], [type]).

Formulas are powerful tools for performing calculations and analyzing data in Excel. In this beginner’s guide, you’ll learn how to use formulas and explore some popular built-in functions.

Learn how to use the powerful Excel PMT Function to help you manage your loan payments and easily calculate detailed loan repayment schedules ...

On the Excel screen, this function can be found using the command ‘fx’ and under the category ‘Financial’. Here’s an example of how PV can be used. Say, you want ₹1 lakh after five years.