) / 12 = $20.

What is the PMT formula?

Payment (PMT)

Payment terms for loans or investments.Its Excel formula is =PMT(rate, nper, pv,[fv],[type]). … Leave a blank type to assume that payment is due at the end of the period. After calculation, the monthly payment is $716.43. This number is in red because it is against total loan payments.

What is the PV Nper formula?

Nper Required. Total number of payment periods in an annuity. For example, if you take out a four-year car loan with monthly repayments, then your loan has 4*12 (or 48) cycles. You would enter 48 in the formula for nper.