Language Reference Guide > Language Reference Guide > Function Libraries > Finance Library Functions > PMT Function
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PMT Function
The PMT function calculates the periodic payment for a loan, given the principal, interest rate, and number of periods in the life of the loan. It uses the same formula as the FV (future value) function (see FV Function).
This function has the following syntax:
PMT(pv = value, i = value, nper = value[, fv = value, paybegin])
Note:  Paybegin is either 1 or 0, indicating that the payment is made at the beginning or end of the period.
Arguments
Data Type
Description
pv
Float
Present value
i
Float
Interest per period
nper
Integer
Number of periods
fv
Float
Future value (default = 0)
paybegin
Integer
When payment made (default = 0)
This function returns:
• Float—The periodic payment
• Null—On error
Example—PMT function:
/*  Calculate the monthly payment on a $50000 loan,
**  with an interest rate of 8.5% per year for a
**  period of 20 years. Note payment will be negative
**  indicating a cash outflow.
*/
payment = pmt(pv = 50000, i = .085/12, nper = 12*20);
Last modified date: 06/25/2024