Name and explain the function which returns the future value of an investment which has constant payment and interest.
The PMT function calculates the periodic payment for a loan having equal installments and a constant rate of interest.
PMT Function - PMT (rate, nper, pv, [fv], [type]), where
Rate is the interest rate per period,
Nper is the number of periods,
P = Monthly Payment
Pv is the present value or the amount the future payments are worth presently, future value or cash balance that after the last payment is made (a future value of zero when we omit this optional argument) Type is the value 0 for payments made at the end of the period or the value 1 for payments made at the beginning of the period.