Write the steps to calculate loan terms using function in MS Excel with a suitable examplep
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Excel PMT Function
Summary. ...
Get the periodic payment for a loan.
loan payment as a number.
=PMT (rate, nper, pv, [fv], [type])
rate - The interest rate for the loan. ...
The PMT function can be used to figure out the future payments for a loan, assuming constant payments and a constant interest rate.
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