How to use data table in Excel
To use data table in Excel we have taken to find loan amount in Excel in the example below
- Loan Amount : 10,00000
- Interest 8% yearly
- Time : 5 years
First we use PMT function as shown below in the picture
=PMT(rate, nper, pv, [fv], [type])
=PMT(rate/12, nper*12, pv, [fv], [type])
Note: here we divide rate by 12 and nper we divide 12 so we can get monthly installment of money . Fv blank type 0 or leave blank.
After finding the PMT.
Next is to create a table of rate like 6% 7% 8% etc.
- Select PMT installment such as =B7.
- Select the table area.
- Go to date table from table
- Now in column select B7
- Installment will appear.