pmt

Periodic payment for a loan or annuity.

Syntax

v = pmt(rate, nper, pv, fv, type)

Description

Returns the constant per-period payment for a loan with present value pv, total of nper periods at periodic interest rate, and future value fv (default 0). type is 0 (end-of-period, default) or 1 (start-of-period).

Result is negative when paying out (loans) and positive when receiving (annuities).

Example

pmt(0.05/12, 30*12, 200000)    % monthly payment on $200K, 30y, 5%

See also

• fv — Future value of an investment.
• pv — Present value of an investment.
• nper — Number of payment periods for a loan or investment.
• rate — Periodic interest rate for an annuity.
• ppmt — Principal portion of a periodic loan payment.
• ipmt — Interest portion of a periodic loan payment.