See how to use the PMT function for the Lender or Borrower. Cash Flows matters in Finance and so using the PMT function is very different for the Lender and Borrower. In ThisSeries learn 17 amazing Finance Tricks. Learn about the PMT, PV, FV, NPER, RATE, SLN, DB, EFFECT, NOMINAL, NPV, XNPV, and the CUMIPMT functions that can make your financing tasks much easier in Excel. See how to use the PMT function in the standard way, but also see how to use it while incorporating a Balloon payment or a delayed payment. Lean how to translate a Nominal interest rate into an Effective Interest rate. Learn how to calculate how long it takes to pay off a credit card balance. Lean how to calculate the Effect Rate on a Payday loan. And many more financing Tricks!! The Excel Finance Tricks 1-17 will show an assortment of Excel Financing Tricks! Formula
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this helped alot
In USA APR or Annual Percentage Rate is defines as Period Rate times Number of Periods, so to get to period rate from APR:
APR/Periods.
Thanks for the note about UK!