How to Use the PMT Function to Calculate Repayments in Excel

How about calculating underpayment and overpayment into the schedule.

Need this excel file for practice

What's meant by balloon payment. Does it mean the advance payment before given the loan or collateral for loan

Hi. I need some help. I've tested some online monthly payment calculators and tried calculating some monthly payments and the amount that has to be paid in total. I can understand the online calculations and manually calculate it and get the same. However the answers differ from what i get when using the excel pmt formula and multiplying the monthly amount by the amount of months that have to be paid. It gives a different answer and i really want to understand what exactly the pmt formula does by manually calculating it on paper. It just won't give me the same answer🙁