Formulas are powerful tools for performing calculations and analyzing data in Excel. In this beginner’s guide, you’ll learn how to use formulas and explore some popular built-in functions.

This Technology Workshop illustrates how to leverage a number of functions to perform calculations in Excel involving the time value of money.

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]).