Entering the PMT() formula

In this example, you will need to enter the required inputs, including the PMT() function. You will need to make sure

This loan is as follows:

• Loan balance is $10,000.
• Interest is 6%, payable monthly.
• Loan amortizes for 1 year.
• No optional parameters are required.

Remember to include a negative before the PMT() formula, as a negative value will be treated as a negative payment!

Use absolute (dollar sign) referencing in the PMT() formula.