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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