Financial functions

1. Consider a loan with monthly payments, an annual interest rate of 12%, a 20-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).

 Rate = It is the interest rate/period.

 Nper = Number of periods.
 [Pmt] = Payment/period.
 PV=Present value
 FV = Future Value.
 [Type] = When the payment is made (if nothing is mentioned, it's assumed that the
payment has been made at the end of the period)

formula: To calculate the monthly payment

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