Key Takeaways: Use Excel to get a handle on your mortgage or loan by determining your monthly payment, your interest rate, and your loan schedule.

The PMT function in Excel is a financial function used to calculates the payment of a loan based on payments and interest rates. The formula for the PMT function is PMT (rate,nper,pv, [fv], [type]).

Note that because this is a payment, Excel will display this number in parenthesis and red font. To avoid that, insert a "-" sign in front of the PMT formula, like below.

For Excel 365, formulas that return a set of values (or an array) are able to spill. Therefore, you can have your formulas spill when using simple calculations, as we did here, and also when using ...

Formulas are powerful tools for performing calculations and analyzing data in Excel. In this beginner’s guide, you’ll learn how to use formulas and explore some popular built-in functions.

On Monday, the company announced that its Copilot AI is now available as an Excel function for Microsoft 365 insiders. That means you can add COPILOT to a formula and then use natural language in a ...