## XL Loan payments - Computer Definition

You can use Excel to compute a loan payment whether you need to save the results in your worksheet or not. If you do not need to record the results, you can select any cell to start the operation. To compute a loan payment, do this: 1. Select the cell where you want the result. 2. Click the Paste Function button. 3. Select PMT from the Financial category. 4. In Rate, enter percentage, slash and period. 5. In Nper, enter total number of months. 6. In Pv, enter value of loan. 7. View monthly payment at bottom.