When function =pmt(c5,c7,-c3) is stored in cell c15. Cell c5 must contain a Periodic interest rate.
We know that periodic interest rate is the rate that is realized on an investment, or loan over a specific period of time. Basically, the periodic rate is the annual interest rate divided by the number of periods.
In Excel the syntax of Rate Function is RATE(nper, pmt, pv, [fv], [type], [guess]), where pv stands for the loan amount, nper is the period of payment and pmt is the periodic payment.
To know more about periodic interest rates refer to the https://brainly.com/question/13735414?referrer=searchResults.
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