Excel PMT() Function Basics

Using the PMT function in Excel to calculate loan payments.

[@Jllashway]

You honestly just saved me a whole lot more of the frustration I was feeling! Thank you for explaining it in detail - a college student.

[@claytonpinheiro7327]

Hg

[@tripplethreat7276]

Dude same lol

[@LevyLikesCats]

10 years after this video was posted and its still incredibly helpful. Thank you very much for helping me to understand this function, and helping me figure out what I was doing wrong.

[@abdiduale9161]

This has been really the most helpful excel workbook demos that will actually help me better manage my finances.

[@cristinacrowe9689]

Mr.Casey, thank you for posting these videos on PMT. I am a student from Regina, Saskatchewan, Canada, and have been watching these to help me with understanding excel. These videos are very helpful. Thanks for helping me!!

[@kirkmangaming]

Minus sign. I've been bashing my head against the wall for a Minus Sign. Thank you!

[@Soulkid22]

Your video was extremely helpful, concise and easy to follow. Much appreciated!

[@gislaineprado5398]

Wow!! Your video help me 10 years later with my assignment. Thank you soooo much!!

[@amyb.6582]

I'm an online student and this video helped so much more than just reading it from the book or the McGraw video. Thanks a million.

[@luisrios930]

Thanks for the video, I used it right now for i assingment, i wasn't paying attention when the proffesor was explaning it hahaha. thank you.

[@rachelsteele6594]

same lo0ol

[@Luvyourfam4ever]

Thank you so much. I’m really dumb when it comes to math and excel but I got my answer correct on the first try because you’re an AWESOME teacher.

[@Libraquemini]

OMG thank you for making this video!!!!!! I thought I was going to be stuck on this assignment FOREVER!!!!!!

[@aswathica508]

Excellent vedio on PMT! A very good explanation of the topic.

[@MrAnthonyVance]

Awesome job. Enjoyed watching you work. Applause!

[@sreykeosopheaktra312]

Thank you so much. I got 99 out of 100 in my IT exam because of your video.

[@rohitbabu7344]

thank you it helped me at last moment of my exam

[@alirehman6937]

Nice video, especially the way you described using INSERT f and then second way of calculation in very easy way (y)

[@shivamgohel74]

Thank u sir it is very useful in my Government Job's exam in Gujarat state, India. God bless you.

[@GuppyPal]

You explained this really well. Thank you.

[@Mag1c4lyfe]

Great job explaining! I did not have any difficulty understanding. Thank you so much!

[@zakaria2010ification]

Thanks a lot for providing an easy instruction about PMT.

[@radyn94]

Thank you dude! Much appreciated!

[@dhaneshpt8641]

Nice presentation... Thank you..

[@benjaminrogers8346]

This helped me create my own debt repayment calculator in my excel spreadsheet. Ill have all the info planned out when I approach my bank to refinance future debt repayments now :-)

[@echko_9]

You saved my ass. I have been trying to do this for a few hours. I can't thank you enough.

[@romeofantastik3946]

Same here. Thank you so much, Peter Casey!

[@lakabaka]

You saved my home-essay THANKS !!!

[@EscaExcel]

Thank you, this was very helpful.

[@Wingspan183]

Thanks for the video helped me solve an annoying finance question!

[@Milionarione]

thak you my friend from Brazil

[@verbalvenom2677]

Helped me with my homework, thanks!!!!!

[@Kyre37]

Thank you so much , you really helped me out here

[@farzanab4871]

This helped me a lot. Thanks

[@akshaya1960]

Thank you very much............ nicely explained

[@tiraandaz]

Great explanation indeed ...quick question ....if Fv is about keeping some balance on the outstanding loan, then shouldn't my monthly payments decrease for any positive value of Fv? But I see that they are increasing. How can that be possible?

[@alexsilva2187]

I was so confused, but this video help me out, so thank you sir.

[@leahl6305]

thank you this helped a bit. But I still need to copy this formula and drag it down to other cells

[@tashoythomas6395]

Sooo helpful 🙌

[@Metayounis]

Thank you.

[@shamsasaid9394]

Thank you my brudda you saved my life.

[@AUG31]

Thank you for your video.

[@Shakhawat_Babon]

Excellent

[@hley1510]

thanks for the vid

[@kawaiidarkbutterfly5570]

Thanks a ton 🙏🏽

[@MrAboyassin2011]

thx for your efforts

[@atach881]

UR SO AWESOME THNX!!

[@NZH3Ripper]

Great thanks

[@indigenousbaybae3489]

Thank you thank you thank you!!

[@WindbladeArrow]

Thank you

[@Hermez11]

Thank You

[@Godess1971]

Thank you very much

[@rimorales1966]

thanks it was very helpful

[@xhinocami]

bro thnx very much !!!

[@marieljannacorpin1858]

Thank You! :)

[@lovepak7270]

Sir how to calculate the mortgage monthly payment (as you used PMT function in excel) if I don't have excel and I wanna calculate it with a simple calculator.

[@reveamaro9099]

I need help with sumifs functions I just don’t know where to put my numbers

[@imran19987]

Please make it monthly or daily basis as well .

[@TheKingChino]

Thanks

[@h0ust0nwehaveapr0blem]

Dear Peter, Thank you for the video. I have a question about PMT itself, not the excel specifically. My understanding is if I take 15 000$ loan 6.5 interest for 4 years I will have to pay 15 000*(1+0.065*4)=18 900 My monthly payment consisting of the body of the loan and the interest is 15 000/48 (months) + 15 000*(0,-65/12) I know PMT shows something else. But what does it show? Why there is the difference? Thanks in advance

[@chloaaah]

immediately I know that you are man in his mid 40s and haven't lost your virginity

[@arnoldtamayo3447]

TY

[@narnimerakapaccs2926]

Sir i need small information for me monthly ok but yearly for me getting wrong please tell the problem

[@renzocresci6037]

thanks!

[@thanosv9177]

thanks dad

[@Preston_Smith]

Thank You Very Helpful

[@janithmadusanka1175]

thank u sir

[@Mark-mw2yo]

thank you soooooooo mash it help me in my exam

[@NabilDzz]

Thx man

[@riazulmriddu394]

buddy favlioud

[@kingming3948]

Thank you so much

[@dubagentselekions8221]

I see in other vedios they use F4 to fix but you don't and its still correct...how does that work? Help

[@peterdcasey]

The F4 key inserts $ into the cell reference, for example B2 becomes $B$2 when pressing F4. This is only needed when you want an absolute cell reference. An absolute cell reference is often used when you copy a formula (possibly with auto fill) and you want a particular cell reference to always point to a specific cell on the sheet. Since this example sheet does not require copying any cell references, no absolute cell reference were needed. (The opposite of an absolute cell reference is a relative cell reference, the default in most spreadsheet programs. These references are updated when a formula containing the reference is copied. Look for help about this at kzbin.info/www/bejne/aoC9ZnWqlqh1idU )

[@makokalandadze7398]

Thank u very much❤️

[@azeem5084]

This is art

[@madushanjeewandara7771]

My bank is calulating the interest on daily basis. Example: Loan is 100,000/-, Period is 05 Years, Interest Rate is 20% p.a., when calculating as above, monthly installment is 2,649/38. But my bank calculates interest is on daily basis and installment is coming as 2,658/41 . How to calculate daily basis interest?

[@Hy33952]

Any work ?

[@blomd5177]

You dont put a down payment down?

[@morehn]

The only number that is relevant is the amount you are paying interest on, which is the money you borrowed. You don't pay interest on your down payment.

[@peterdcasey]

Mehmet below does not justify his comment. If the Annual Percent Rate is 6.5% the monthly rate would be 6.5% divided by 12. The payments are monthly, thus the monthly rate. Mehmet, please explain (unlikely).

[@kaishun86]

should be (1.065^(1/12)-1) = 0.526% instead of 0.542%. Bcuz compound interest is used in most real-world cases.

[@ZigaPavlin]

I also think so. This rate also explains the problem Christina Crow below has. I think that Mehmet and Kaishun are right... simply dividing by twelve is a simplification that does not work in this case...

[@david4hunnid]

When i'm doing total spending it tells me that you have entered too few arguments. :/

[@imran19987]

1 question plz anSer. present value: 25000 Rate:8% Months:24 Yeays : 2 Payment : 2500.... We get following result PMT= 1130.68 PPMT= 964.02 Ipmt= 166.67 Now my question is if i had to multiply principle amount with *24 month 964.02*24 = 23136 Why didnt this amount matched the total?? Which is 25000 ???

[@mehmetdogu384]

you do not divide 6.5% by 12, this is not right. The Correct interest rate is 0.526 % many people in web as well as Microsoft team makes same mistake and do favour to lenders to robe public more.

[@morehn]

Is that because it is compound interest?

[@1231234mimi]

Mine came out to a ridiculous amount ….

[@sexyredztt]

i don't understand any thing :'( i don't wanna fail my class

[@draganstojanovic1]

G vg voo

[@bustedcanadian9619]

this doesnt work.

[@cavanaughsgarage]

Literally every single one of these videos assumes the interest is calculated monthly. Waiting for people to actually be aware that interest is actually accrued daily; just charged monthly. Basically the periods should be closer to 11k, not 360 months

[@mees1234]

Dammit, why can't any of you just explain in a minute about the formula. 8 minutes of pure jammering.