Calculates the payment for a loan based on the specified constant payments and the specified constant interest rate.
Syntax
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PMT( Number rate, Number nper, Number pv, [Number fv = 0], [Number type = 0] ) → Number |
Parameters
- rate
- Required. The interest rate per period.
- nper
- Required. The total number of payment periods.
- pv
- Required. The present value.
- fv
- Optional. The future value. If omitted, fv is assumed to be 0.
- type
- Optional. Indicates when payment is due. Less than 1 (or omitted) indicates at the end of the period, >= 1 indicates at the beginning of the period. If omitted, type is assumed to be 0.
Example
| Formula
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=PMT(4%/12,5*12,100000) |
See Also
Function Reference
FV Function
NPER Function
PV Function
RATE Function