Financial Functions in Excel: Difference between revisions
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=Interest Payment= | =Interest Payment= | ||
==PMT== | |||
* https://support.office.com/en-us/article/pmt-function-0214da64-9a63-4996-bc20-214433fa6441 | |||
Calculates the payment for a loan based on constant payments and a constant interest rate. | |||
PMT(interest_rate_per_period, number_of_payments, principal, [future_value], [type]) | |||
=== interest_rate_per_period=== | |||
The interest rate per period. For example, if you obtain an automobile loan at a 10 percent annual interest rate and make monthly payments, your interest rate per month is 10%/12, or 0.83%. | |||
=== number_of_payments === | |||
Number of payments (periods). For a 30 year fixed, the number of payments is 30 * 12. | |||
==PV== | |||
* https://support.microsoft.com/en-us/office/pv-function-23879d31-0e02-4321-be01-da16e8168cbd | |||
Calculates the present value of a loan or an investment, based on a constant interest rate. You can use PV with either periodic, constant payments (such as a mortgage or other loan), or a future value that's your investment goal. | |||
Latest revision as of 04:01, 10 June 2020
Internal
Interest Payment
PMT
Calculates the payment for a loan based on constant payments and a constant interest rate.
PMT(interest_rate_per_period, number_of_payments, principal, [future_value], [type])
interest_rate_per_period
The interest rate per period. For example, if you obtain an automobile loan at a 10 percent annual interest rate and make monthly payments, your interest rate per month is 10%/12, or 0.83%.
number_of_payments
Number of payments (periods). For a 30 year fixed, the number of payments is 30 * 12.
PV
Calculates the present value of a loan or an investment, based on a constant interest rate. You can use PV with either periodic, constant payments (such as a mortgage or other loan), or a future value that's your investment goal.