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Recording Interest on Capital & Drawings

Which functio...

Question

Which function will return the monthly payment of a loan?

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Solution

Answer: Payment of a loan (PMT)

The PMT function is a financial function which refunds a loan with a periodic payment. Provided the loan amount, number of periods, and rate of interest, people could use the PMT feature to calculate the loan payments.

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Recording Interest on Capital & Drawings

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