Syntax
=PMT(rate, nper, pv, [fv], [type])Arguments
| Argument | Required | Description |
|---|---|---|
rate | Required | The interest rate per period |
nper | Required | The number of payments |
pv | Required | The present value (the loan amount) |
fv | Optional | The value left after the last payment (0 when left out) |
type | Optional | 0 for payments at the end of each period, 1 at the start |
How to use PMT
PMT takes 3 required arguments and 2 optional arguments. Type =PMT( in a cell and SheetsBat shows the arguments as you go. Optional arguments are shown in square brackets; leave them out to use their default.
Examples
Each result below was calculated by the SheetsBat formula engine.
=PMT(0.08/12, 10, 10000)Result =PMT(0.08/12, 10, 10000, 0, 1)Result Related financial functions
- ODDFYIELDReturns the yield of a security with an odd (short or long) first period.
- ODDLPRICEReturns the price per 100 face value of a security with an odd (short or long) last period.
- ODDLYIELDReturns the yield of a security with an odd (short or long) last period.
- PDURATIONReturns the number of periods an investment needs to grow to a target value at a constant rate.
- PPMTReturns the principal part of one payment of a loan or investment.
- PRICEReturns the price per 100 face value of a security that pays periodic interest.
- PRICEDISCReturns the price per 100 face value of a discounted security.
- PRICEMATReturns the price per 100 face value of a security that pays interest at maturity.
- PVReturns the present value of a series of equal future payments.