The PMT function in Excel is a financial function used to calculate a loan's payment based on payments and interest rates. Learn How to use it.

Letâ s say you want to take a loan but can only pay monthly installments of $1500. Using the PMT function and Goal Seek, you can find out how much you can borrow at a fixed interest rate.

You can't have too many Excel tips. These cover some handy shortcuts, and useful functions for calculation payments or generating random numbers.