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

Excel equivalent

PMT