PMT function in Excel:

These functions are widely used in financial
transaction to find the present value and monthly payments.

Syntax for PMT function:

PMT (rate, nper, pv, [fv], [type])

Note: For a more complete description of the arguments in PMT, see
the PV function.

The PMT
function syntax has the following arguments:

·        
Rate   Required. The interest rate for the loan.

·        
Nper   Required. The total number of payments for the
loan.

·        
Pv    Required. The present value, or the total
amount that a series of future payments is worth now; also known as the
principal.

·        
Fv    Optional. The future value, or a cash
balance you want to attain after the last payment is made. If fv is omitted, it
is assumed to be 0 (zero), that is, the future value of a loan is 0.

·        
Type    Optional. The number 0 (zero) or 1 and
indicates when payments are due.

Consider a
loan amount consider a loan with monthly payments, an
annual interest rate of 6%, a 5-year duration, a present value of $150,000
(amount borrowed) and a future value of 0 (that's what you hope to achieve when
you pay off a loan).



5 years or total number of payments 5 x 12 = 60.



Monthly payments at 5%  so use 6%12
that is 0.5%

Here it produces a negative value but treat it as positive value.



Therefore, monthly payment is 193.33.



Also we could find Nper, Rate, PV, and Fv.



To find out the Nper:

 Find out Rate:

 Find out the Present Value (PV):

 Find out the Future Value (FV) :

Most of the employees are having PF deduction in their
salary. To know their provident fund balance in his/her account follow the
below link and provide the required information.

Bottom you find a link  Click here to know your balance online

Select the state and select your EPFO office from the given list.

After selecting the information you will redirected to page like the below.

 If you don't know the establishment code search from the click here

After filling every details in the link you got an SMS to your registered  mobile number.

To get your PF Account statement Login here and get the statement.