The payment made each period and cannot change over the life of the annuity. You would enter 48 into the formula for nper. For example, if you get a four-year car loan and make monthly payments, your loan has 4*12 (or 48) periods. The total number of payment periods in an annuity. You would enter 10%/12, or 0.83%, or 0.0083, into the formula as the rate.
For example, if you obtain an automobile loan at a 10 percent annual interest rate and make monthly payments, your interest rate per month is 10%/12, or 0.83%.
The PV function syntax has the following arguments: Or, use the Excel Formula Coach to find the present value of your financial investment goal. At the same time, you'll learn how to use the PV function in a formula. Use the Excel Formula Coach to find the present value (loan amount) you can afford, based on a set monthly payment. You can use PV with either periodic, constant payments (such as a mortgage or other loan), or a future value that's your investment goal. PV, one of the financial functions, calculates the present value of a loan or an investment, based on a constant interest rate. Excel for Microsoft 365 Excel for Microsoft 365 for Mac Excel for the web Excel 2021 Excel 2021 for Mac Excel 2019 Excel 2019 for Mac Excel 2016 Excel 2016 for Mac Excel 2013 Excel 2010 Excel 2007 Excel for Mac 2011 Excel Starter 2010 More.
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