How to find EMI on product in M.S Excel? | Using By | =PMT() | =IPMT() | =PPMT()

PMT, one of the financial functions, calculates the payment for a loan based on constant payments and a constant interest rate.

Excel Formula Coach

Use the Excel Formula Coach to figure out a monthly loan payment. At the same time, you'll learn how to use the PMT function in a formula.

Syntax
PMT(rate, nper, pv, [fv], [type])

Note: For a more complete description of the arguments in PMT, see the PV function.

The PMT function syntax has the following arguments:

Rate Required. The interest rate for the loan.

Nper Required. The total number of payments for the loan.

Pv Required. The present value, or the total amount that a series of future payments is worth now; also known as the principal.

Fv Optional. The future value, or a cash balance you want to attain after the last payment is made. If fv is omitted, it is assumed to be 0 (zero), that is, the future value of a loan is 0.

Type Optional. The number 0 (zero) or 1 and indicates when payments are due.

Set type equal to

If payments are due

0 or omitted

At the end of the period

1

At the beginning of the period