Name and explain the function which returns the future value of an investment which has constant payment and interest.

Name and explain the function which returns the future value of an
investment which has constant payment and interest.

Answer.
PMT: The PMT function calculates the periodic payment for an annuity
assuming equal payments and a constant rate of interest. The syntax of
PMT function is as follows: =PMT (rate, nper, pv, [fv], [type]) where
Rate is the interest rate per period,
Nper is the number of periods,
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.
The PMT function is often used to calculate the payment for mortgage
loans that have a fixed rate of interest.