PMT
Description
Calculates payment to be made each period
Syntax
PMT (rate, nper[, future[, present[, type]]])
Cannot be used in the condition of a FIND action.
Parameters
- Rate – interest rate per period (in percents, 50% is 0.5).
- Nper – total number of payment periods in an annuity
- Future value (optional) – future value or the cash balance that is attained after the last payment is made. If omitted assumed to be 0
- Present value (optional) – present value or the lump-sum amount that a series of future payments is worth right now. If omitted assumed to be 0
- Type (optional) – indicates when payments are due. 0 or omitted – at the end of the period; 1 – at the start of the period
Returns
Number: the payment to be made each period.
Example
PMT (0.08, 12 * 20, 500, 0, 0)