This function returns the amount of payment of principal for a loan given the present value, specified interest rate, and number of terms.
PPMT(rate, per, nper, pval, fval, type)
This function has these arguments:
Value of interest rate per period.
Number of the period for which to find the interest, between 1 andnper
Total number of payment periods in an annuity.
Present value, worth now
[Optional] Future value, cash value after the last payment; if omitted, the calculation uses zero
[Optional] Indicates when payments are due; at the end (0) or beginning (1) of the period; if omitted, the calculation uses the end (0)
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.
Accepts numeric data for all arguments. Returns numeric data.
PPMT(0.45, 22, 30, 6000, 7000) gives the result -$206.47