Implementing the PMT Function using Excel Help

Most people believe that the help provided in Microsoft Excel is useless. How this notion has got popular is beyond any logic if you research the details carefully. Let’s take a careful look at the help feature in Microsoft Excel in connection with the function PMT.
When you start writing ‘=PMT( ‘ you immediately see the following as shown in the image below:

PMT Function in Excel

PMT Function in Excel

First of all you can see all the parameters that you need to enter to calculate the equal monthly installments. Now if you bring your mouse cursor next to PMT you can see a link and when you click on it you get the following screen. I’ve taken many screen shots to show how extensive the help feature in MS Excel is:

PMT Function Excel Help 1

PMT Function Excel Help 1

PMT Function Excel Help 2

PMT Function Excel Help 2

PMT Function Excel Help 3

PMT Function Excel Help 3

PMT Function Excel Help 4

PMT Function Excel Help 4

So you see the help is pretty good. Not only that. If you now go to the edit group in the Home tab and click on the drop down arrow next to ‘Autosum’ and finally click on  ‘More Functions…’ you’ll be brought to a new window called insert function.
Now enter ‘PMT’ or ‘equal monthly payments’ under the title ‘search for a function’ in the text box.
Next click on Go.
Now you can see the PMT function. Click on it. A screen shot is shown below:

PMT Function Excel Help 5

PMT Function Excel Help 5

Now click on ok and youll see the following window:

PMT Function Excel Help 6

PMT Function Excel Help 6

In this window you get help on each of the parameters Rate, Nper, Pv, Fv and Type with detailed explanations as you see in the case of Rate in the image. In fact as you enter the parameters you can view the result and even correct your entries if you made a mistake.

We can only conclude that the help provided in Microsoft Excel is good and useful.

View the video:


Further reading:
PMT

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