To do this, we configure the PMT function as follows:

rate- The interest rate per period.

nper- the number of periods comes from cell C7; 60 monthly periods for a 5 year loan.

pv- the loan amount comes from C5.

Excel formula: Calculate compound interest

We use the minus operator to make this value negative, since a loan represents money owed.

Excel formula: Calculate interest rate for loan

Excel formula: Calculate payment periods for loan

Excel formula: Calculate original loan amount

Excel PMT function