What category of functions is used in this formula? = PMT (C10/12, CB, C9, 1)
What category of functions is used in this formula? = PMT (C10/12, CB, C9, 1)
Explanation
The PMT function in Excel calculates the payment for a loan based on constant interest rates and payments, categorizing it under financial functions.
It uses inputs like rate (C10/12), number of periods (CB), and loan amount (C9) to compute the payment.