PMT Function

Returns the end-of-period payment for given present value at specified rate for specified period. Note: The result is not negated as a debt. (e.g. PMT(0, 10, 10000) = 1000.00 not -1000.00)

Syntax

PMT(rate, period, presentvalue)

Returns the end-of-period payment for given present value at specified rate for specified period. Note: The result is not negated as a debt. (e.g. PMT(0, 10, 10000) = 1000.00 not -1000.00)

Arguments

rate Numeric - the interest rate.

period Numeric - the period.

presentvalue Numeric - the present value or principal.

Remarks

Example:

PMT(0.06, 3, 100000); // returns 39700.533