Skip to main content
Glite Dictionary
😣 Period symptoms 🔬 Light detector 📊 Loan calculation 💵 A payment
PMT

PMT

7.9
A spreadsheet function that calculates regular loan payments
  • noun
  • Specialized
translation icon : función PAGO (de Excel)
  • The accountant explained how the PMT formula helps calculate loan repayments quickly.

Examples

  • The PMT function helps calculate monthly loan payments.

  • By entering the interest rate and loan amount, the PMT function gives the payment per period.

  • You can use the PMT function in Excel to find out your monthly mortgage payment.

  • You can use PMT to determine your mortgage costs.

  • To calculate the loan's monthly payment, use the PMT function in your spreadsheet.

  • The formula for PMT helps you determine how much you'll owe each month for a mortgage.

  • Make sure to input the interest rate and loan term correctly to get the right PMT value.

Surface Forms

PMT singular
PMTs plural

Etymology

PMT is short for the word payment, which means 'an amount paid', and the spreadsheet PMT function calculates the regular loan amount you must pay each period based on rate, time, and the loan total.