An annuity is a financial product that provides a stream of income over a set period. Annuities are often used in retirement planning as a way to generate income from a lump sum investment.
The PMT function is an Excel Financial function that returns the periodic payment for an annuity. The formula for the PMT function is PMT(rate,nper,pv, [fv], [type]). The NPV function returns the net ...
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