PMT function
Summary
Returns the periodic payment for an annuity
Syntax
PMT(rate, nper, pv, [fv], [type])
Note: For a more complete description of the arguments in PMT, see the PV function.
The PMT function syntax has the following arguments:
• Rate Required. The interest rate for the loan.
• Nper Required. The total number of payments for the loan.
• Pv Required. The present value, or the total amount that a series of future payments is worth now; also known as the principal.
• Fv Optional. The future value, or a cash balance you want to attain after the last payment is made. If fv is omitted, it is assumed to be 0 (zero), that is, the future value of a loan is 0.
• Type Optional. The number 0 (zero) or 1 and indicates when payments are due.
0 or omitted | At the end of the period
1 | At the beginning of the period
The PMT function syntax has the following arguments:
• Rate Required. The interest rate for the loan.
• Nper Required. The total number of payments for the loan.
• Pv Required. The present value, or the total amount that a series of future payments is worth now; also known as the principal.
• Fv Optional. The future value, or a cash balance you want to attain after the last payment is made. If fv is omitted, it is assumed to be 0 (zero), that is, the future value of a loan is 0.
• Type Optional. The number 0 (zero) or 1 and indicates when payments are due.
0 or omitted | At the end of the period
1 | At the beginning of the period
Example
=PMT(A2/12,A3,A4)
=PMT(A2/12,A3,A4,,1)
=PMT(A2/12,A3,A4,,1)