PMT
The PMT function calculates the payment for a loan based on constant payments and a constant interest rate.
Syntax
pmt(rate:number, nper:number, pv:number, fv:number, type:number)Arguments
rate – Required. The interest rate per period.
nper – Required. The total number of periods.
pv – Required. The present value or initial investment. Cash outflows are considered negative and cash inflows as positive.
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(0,1,10,1000,0,0)Returns 100.0000000000001