Question

Which function will return the monthly payment of a loan?

Answer 1

just accept the loan from user and calculate them as per month and return the value using any function name..

Answer 2

PMT function will return the monthly ‘payment of a loan’.

Explanation:

We can calculate the loan payment using PMT function in EXCEL. Using this functional facility, computing the monthly payments are very easy. Here, we can provide with basic loan information such as interest rate, loan amount, term period, and the function for computing it. This loan information can be passed into the function through parameters or functional arguments.

The syntax of the PMT function is as below,

= PMT (rate, nper, pv, fv, [type])  

Where nper - number of periods,

Pv - present value

Fv - future value