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PMT
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Formula Reference > Built-In Functions > PMT

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PMT


Name

Payment calculation

Description

Returns the payment amount given the present value, specified interest rate, and number of terms.

Syntax

PMT(Amount, Interest, Terms, TermsPerYear)

Remarks

Arguments are as follows:

Argument Description
Amount Present value (for example, loan amount)
Interest Interest rate expressed as annual percentage
Terms Total number of terms (TermsPerYear multiplied by the number of years of the loan)
TermsPerYear Number of payments per year

Be sure to express the interest rate as per annum. For example, if the interest rate is 8 percent, use 8 for the Interest argument.

See the PV function for the formula used to calculate financial values.

See also FV, NPER, PV.

Data Type

Accepts numeric data for all arguments. Returns numeric data. For more information, see Data Type for Each Cell Type.

Example

PMT(R1C2,8,16,4)
PMT(20000,6,120,12)=222.0500000000

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