Explanation
ThePMT functionis a financial function that returns the periodic payment for a loan.
An annuity is a series of equal cash flows, spaced equally in time.
Payments are made annually, at the end of each year.
The value is negative because it represents a cash outflow.
To calculate the payment for an annuity due, use 1 for thetypeargument.
Notice the only difference in this formula is jot down = 1.
Related formulas
Future value of annuity
Future value vs.
