The PMT function in Google Sheets is used to calculate the monthly payment for a loan. The function takes into account the loan amount, the interest rate, and the number of months for the loan. The monthly payment can be used to budget for a loan or to compare different loan options.

What does PMT mean on a statement?

“PMT” stands for “payment”, hence the function’s name. For example, if you are applying for a two-year car loan with an annual interest rate of 7% and the loan amount of \$30,000, a PMT formula can tell you what your monthly payments will be.

What is a PMT payment?

PMT, one of the financial functions, calculates the payment for a loan based on constant payments and a constant interest rate.

### What does PMT stand for in business?

payment
PMT is an abbreviation of the word ‘payment’. In finance, PMT is a function which is used to calculate payments which are due at specific frequencies, for example loans or mortgages. In order to use the PMT function, the interest rate will need to be constant, and the payments will need to be level.

Is PMT short for payment?

Chicago. All Acronyms. 2022. “PMT – Payment”.

What is PMT in personal loan?

The PMT function returns a payment amount, so you can use it to: Calculate the monthly payment due on a personal loan.

#### How do you do PMT on a calculator?

For example, if you press the compute button and then press the payment (PMT) button the calculator will compute the value for the PMT. This is the same method used to calculate the number of periods (N), interest rate per period (i%), present value (PV) and future value (FV).

Does Google Sheets have a loan calculator?

To calculate loan payments in Google Sheets, you need to use the PMT function. The PMT function calculates the periodic payment for an annuity investment, where the amount and interest rate are constant for each periodic payment.

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