Calculates the level payment amount with the same present value as the present value and future value (combined) as provided.

PMT(InterestRate, Period, PV, FV, AnnuityType)

InterestRate: this is the interest rate per period (expressed as a decimal, 8% = 0.08).

Period: this represents the number of payments made.

PV: equals the total value as of the beginning of the period. This value does not include future value.

FV: equals the future value accumulated at the end of the period.

AnnuityType: indicates whether payments are made at the beginning or end of the period. 0 indicates payments are made at the end of the period. 1 indicates payments are made at the beginning of the period.

The sign of payments and present/future value will be opposite.

PMT(.08, 10, 10000, 0, 1) equals -1,379.90