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# PPMT

This function returns the amount of payment of principal for a loan given the present value, specified interest rate, and number of terms.

## Syntax

`PPMT(rate, per, nper, pval, fval, type)`

## Arguments

This function has these arguments:

Argument

Description

rate

Value of interest rate per period.

per

Number of the period for which to find the interest, between 1 andnper

nper

Total number of payment periods in an annuity.

pval

Present value, worth now

fval

[Optional] Future value, cash value after the last payment; if omitted, the calculation uses zero

type

[Optional] Indicates when payments are due; at the end (0) or beginning (1) of the period; if omitted, the calculation uses the end (0)

## Remarks

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

The result is represented by a negative number because it is money paid out by you.

See the PV function for the equation for calculating financial values.

## Data Types

Accepts numeric data for all arguments. Returns numeric data.

## Examples

`PPMT(B1,C4,C5,C6,C7,1)`

`PPMT(R1C2,R4C3,R6C3,R7C3,0)`

`PPMT(0.45, 22, 30, 6000, 7000)` gives the result -\$206.47