The formula for the PMT function is PMT(rate,nper,pv,[fv], [type]). In this tutorial, we want to find the monthly payment. Open Microsoft Excel. Use an existing table or create a table.

The NPER function can be useful here. NPER is short for ‘Number of Periods’. On the Excel screen, this function can be found using the command ‘fx’ and under the category ‘Financial’.

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.