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title: "Monthly loan payment with PMT | PracticeExcel"
description: "Practice PMT in a live spreadsheet: the monthly payment on a loan from the amount, the yearly rate and the term."
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# **Monthly loan payment with PMT**

In B5, work out the monthly payment on the loan with PMT. The rate and the number of payments must both be monthly: PMT(B3/12,B4\*12,-B2).

B5fx

|  | A | B | C | D | E | F |
| --- | --- | --- | --- | --- | --- | --- |
| 1 | Loan | Value |  |  |  | |
| 2 | Amount borrowed | 24000 |  |  |  | |
| 3 | Interest rate per year | 0.06 |  |  |  | |
| 4 | Years | 4 |  |  |  | |
| 5 | Monthly payment |  |  |  |  | |
| 6 |  |  |  |  |  | |
| 7 |  |  |  |  |  | |
| 8 |  |  |  |  |  | |

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