How do I use the PMT or CUMPRINC functions in Excel?

< 1 min read

Step 1: Calculate the Payment Amount
Use the PMT function when you want to calculate the amount of a single payment.
Step 2: Calculate the Principal Amount
Use the CUMPRINC function when you want to calculate the cumulative principal amount paid during a particular period.
Step 3: Analyze the Results
Use the PMT and CUMPRINC functions to analyze the payment schedule in order to formulate a plan for the desired payment period.