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PMT and subtotal function

Contributors to this page:
Zhen Hao Lee
Veishnawi A/P Nehru
Krishna Priya Udayakumar
Fui May Chong

Tired of manual calculation for payment?

Why not use the payment function (PMT) by Excel?

Follow us in easy steps! ✅

Step 1#

Type the function: =PMT

step-1

Step 2#

Full function: =PMT(RATE, NPER, PV, [FV], [TYPE])

Function breakdown:

  1. RATE must divide by 12 as we want monthly payment.
  2. NPER is number of years, must be times with 12 since it is monthly payment.
  3. PV is present value which is the loan amount.

step-2

Step 3#

You got it! You need to pay RM 489.15 monthly.

step-3

Step 4#

Does not like negative sign or bracket?

Put negative sign in front of PMT: =-PMT()

step-4

Voila! 🎊#

final-result

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