# PMT

The PMT function calculates the periodic payment amount for a loan based on a constant interest rate and fixed payment schedule. It determines how much needs to be paid in each period to repay the loan over time. This function is commonly used in financial planning, loan analysis, and investment calculations.

### Syntax

```javascript
PMT(rate:number, nper:number, pv:number, fv:number, type:number)
```

### Arguments

rate – The interest rate per period (Required).

nper – The total number of periods (Required).

pv – The present value or initial investment. Cash outflows are considered negative and cash inflows as positive (Required).

fv – The future or residual value. This is an optional argument and if omitted, it is considered to be zero.

type – Indicates when the payments are made. The type is zero if payments are made at the end of the period and non-zero if payments are made at the start of the period. This is an optional argument and when omitted, it is considered to be zero.

### Example

```
PMT(RateOfInterset,NumberOfPeriods,INITIAL)
```

In the example below, the *PMT\_Result* measure is created using the **PMT** function, which calculates the periodic payment amount based on the *RateOfInterest, NumberOfPeriods,* and *INITIAL* values.

<figure><img src="/files/5X5YArBArqPiRLHflq5O" alt=""><figcaption><p>Applying PMT Function</p></figcaption></figure>

### Excel equivalent

[PMT](https://support.microsoft.com/en-us/office/pmt-function-0214da64-9a63-4996-bc20-214433fa6441)


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