PMT has four siblings, and they share its arguments. Give Excel any four of rate, number of periods, payment, present value and future value, and it finds the fifth:
=FV(rate, nper, pmt, [pv], [type]): what a series of deposits grows to.=PV(rate, nper, pmt, [fv], [type]): what a series of payments is worth today.=RATE(nper, pmt, pv, [fv], [type]): the rate per period that links them.=NPER(rate, pmt, pv, [fv], [type]): how many periods it takes.
The same two rules as PMT apply. Match the period: a monthly payment needs a monthly rate. And mind the sign: money you pay out is negative and money you receive is positive, so RATE and NPER fail with #NUM! when everything has the same sign.
The last argument, type, says when payments happen: 0 (or left out) at the end of each period, 1 at the start. Rent and leases are paid at the start, which makes them worth a little more.