DATABASE FUNDAMENTALS
ADJUSTING COLUMN WIDTH ROW HEIGHT IN EXCEL
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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AVERAGE
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PMT
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MIN
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MAX
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Detailed explanation-1: -PMT, one of the financial functions, calculates the payment for a loan based on constant payments and a constant interest rate.
Detailed explanation-2: -What is the PMT function in Excel? The Excel PMT function is a financial function that calculates the payment for a loan based on a constant interest rate, the number of periods and the loan amount. “PMT” stands for “payment", hence the function’s name.
Detailed explanation-3: -FV=PMT(1+i)((1+i)^N-1)/i where PV = present value FV = future value PMT = payment per period i = interest rate in percent per period N = number of periods.
Detailed explanation-4: -So, to get your monthly loan payment, you must divide your interest rate by 12. Whatever figure you get, multiply it by your principal. A simpler way to look at it is monthly payment = principal x (interest rate / 12). The formula might seem complex, but it doesn’t have to be.