How does the pmt function work in excel?
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Answer / Aditya Veer
"The PMT (Payment) function in Excel calculates the monthly payment for a loan with specified rate, term, and loan amount. The formula is =PMT(rate, nper, pv, [fv], [type]). Where:n- rate: interest rate per periodn- nper: total number of periodsn- pv: present value or loan amountn- fv (optional): future value of the loan at maturityn- type (optional): payment frequency (e.g., 1 for monthly, 0 for annual)"
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