How to Use the Payment Function in Excel – Tutorial

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Excel tutorial on how to use the payment function to calculate loan payment amount in Excel.

What is the payment function in Excel?

PMT, the Payment formula, is used to calculate loan payments.

Examples of when you could use the PMT formula:

You can use the payment formula to calculate a car payment or to calculate mortgage payments, for example.

You can also use the PMT formula to compare loans.

About Y. Acosta

Yil's (pronounced like "Jill") passion for Excel spreadsheets can be traced back to her days in marketing, where she spent significant time working on analytics. As a content creator, she now specializes in Excel spreadsheet tutorials. Make sure to visit the About page to learn more.

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