PMT
Returns the periodic payment for an annuity.
FinancialFinance & Accounting
What it does
Calculates loan payments based on constant payments and constant interest rate.
Syntax
PMT(rate, nper, pv, [fv], [type])
Arguments
rate(number) — Interest rate per period.nper(number) — Total periods.pv(number) — Present value.
Examples
Monthly Payment
Payment for $10k loan, 5%, 5 years.
FORMULA
=PMT(0.05/12, 60, 10000)
RESULT
-188.71
SAMPLE DATA
| A | B | C | |
|---|---|---|---|
| 1 | Loan | Rate | Years |
| 2 | 10000 | 0.05 | 5 |