For what purpose is 0 and 1 used in excel formulaes?

-eg: =Pmt(7.5%/12, 2*12, 5000, 0, 1)

=Pmt(6%/52, 4*52, 8000, 0, 0)The last digit is for the timing of the payment...1 means at the beginning of the period, 0 means at the end of the period.



The second to last digit is the future value. Most times it's zero in a payment formula because at the end of making your payments, you don't want to owe anything.