LOAN REPAYMENT SCHEDULE: Loan is a sum of borrowed money for a specied period at a pre-specied rate of interest. The loan is repaid through a number of periodic repayment instalments over the loan repayment period. LibreOffice Calc function PMT is used to calculate the loan repayment schedule. The parameters of the function PMT are as follows.
Parameter – Explanation
- Rate – Interest rate Nper – Total Number of payments for the loan
- PV – Present value(Loan amount)
- FV – Future value, which is taken a zero, is the balance at the end of the loan period
- Type – Whether payment is made at the beginning (value = 1) or at the end (value = 0) of the period.