Excel Function : PMT
Returns the periodic payment for an annuity
Microsoft Excel Reference Page
Syntax and Description of the PMT Excel Function
The syntax for the PMT function in Excel is as follows: =PMT(rate, nper, pv, [fv], [type]) where "rate" is the interest rate per period, "nper" is the total number of payment periods, "pv" is the present value of the loan, "fv" is the future value of the loan, and "type" is the number of the payment period at which to begin payment (1=begin immediately, 0=begin at the end of the period).
About PMT Excel Function
The PMT function calculates the periodic payment for a loan based on constant payments and a constant interest rate. =PMT(rate, nper, pv, [fv], [type]) rate - The interest rate for the loan. nper - The total number of payments for the loan. pv - The present value of the loan. [fv] - The future value of the loan. [type] - The type of loan.