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]).

The PMT function calculates the periodic payment to repay a loan or fund based on a constant interest rate and a fixed payment schedule. ... PMT function in Excel. finance-Excel-functions-2.

The PMT function is designed to calculate the periodic payment for a loan (assuming constant payments and interest rates). It's a fundamental tool for financial calculations in Excel.