In: Finance
As shown in attached Screen shot. Put Loan Amount in C3 = 1200000, Interest in C4 in absolute terms i.e. if rate 3.125% then put it as 0.03125, Enter no of periods in C5 i.e. if 5 years and frequency is monthyl then put 180.
Now enter = pmt. the following syntax appears
=PMT (rate, nper, pv, [fv], [type])
Select at Rate = C4/12 ( Divide 12 because monthly frequency and rate is Annual)
nper is No of periods = C5
PV = - C3 ( put minus sign to get positive value in PMT)
[Fv] = It is optional if FV given otherwise left blank
[type] = it is also optional ( 0 for end period payment and 1 for beginning payment i.e. annuity due) ( left blank if annuity regular because it is bydefault.