We may be compensated for your purchase of any of the products featured on this page – it helps us keep the lights on :)
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.