PMT(PV, R, N)

 

Description

This function returns the periodic payment for a loan, given present value PV and interest rate R.  The formula is given by:

 

 

Parameters

 

PV

Present value of an investment.

 

R

Interest rate.

 

N

Number of periods.

 

Examples

 

PMT(15000, 11%, 4) = 4834.90

 

PMT(M4, 0.07, G4) = 8058.6404

Where G4 = 30 and M4 = 100000.

 

PMT(1700, 11, 0) = #Error

"Period" must be an integer.