The PV function is configured as follows:

rate- The interest rate per period.

pmt- The payment made each period.

This is the known amount of $93.22, which comes from cell C6.

Excel formula: Calculate compound interest

By convention, payments in PV are input as negative values.

With these inputs, the PV function returns 5,000.226, which is displayed as $5000 using number formatting.

Excel formula: Calculate interest rate for loan

Excel formula: Calculate payment periods for loan

Excel formula: Calculate payment for a loan

Excel PV function