PMT(rate, nper, pv [,fv] [,type]) 
Returns the payment for a loan with constant payments and fixed interest. 
rate  The fixed interest rate per period. 
nper  The total number of payments. 
pv  The present value of the loan. 
fv  (Optional) The future value of the loan. 
type  (Optional) The number indicating when the payments are due: 0 = the end of the period (default) 1 = the start of the period 
Remarks 
* A negative number represents any cash you pay out. * A positive number represents any cash you receive (start with or end with). * The "rate" and "nper" must have the same units. * The "rate" and "nper" MUST be expressed in the same units of time: years, months or days. * If "type" is left blank, then 0 is used. * If "type" = 0, then payments are made in arrears. * In Excel 2010 the accuracy of this function was improved. * For an illustrated example refer to the page called Loan Repayments. * The equivalent VBA function is PMT * In Excel 2003 this function was only available when you had the Analysis ToolPak addin loaded. * For the Microsoft documentation refer to support.office.com 

1  How much would I have to pay back every month if I took out a loan for £10,000 over 5 years with an annual interest rate of 10%. 2  How much would I have to pay back every month if I took out a loan for £10,000 over 5 years with an annual interest rate of 10% and made the payments at the start of the month. 3  How much would I have to pay back every month if I took out a loan for £10,000 over 5 years with an annual interest rate of 10% and made the payments at the end of the month. 4  How much would I have to pay back every week if I took out a loan for £10,000 over 5 years with an annual interest rate of 10% and made the payments at the end of the week. 5  How much would I end up paying back if I took out a loan for £10,000 over 5 years with an annual interest rate of 10%. 6  How much would I have to pay back every year if I took out a loan for £25,000 over 10 years with an annual interest rate of 8.5%. 7  How much would I have to pay back every month if I took out a loan for £5,000 over 3 years with an annual interest rate of 5.6% and with a lump sum of £500 to pay at the end of the 3 years. 
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