E G H PMT Function pmt(rate, nper,pw. [tv].[type]) Loan Amount Loan Years Interest Rate 30,000 5 12% Interest Rate Rate No. of Payments NPER Present Value PV Monthly Ropayment Total Amount Repaid D 1 2 13 14 15 16 17 Interest rate for the entire your is 12% To figure out the monthly interest rate amount work out the per month by dividing the interest rate by 12 months in the year) How many payments are to be made? The present Value sometimes called the principle, is how much the loan is worth now Enter the PMT function using the criteria Multiply the monthly repayment value by the number of months of the loan