All functions / Financial
PMT
The payment for a loan with constant payments and a constant interest rate.
Syntax
=PMT(rate, nper, pv, [fv], [type])
Arguments
rate: Interest rate per period, e.g. 5%/12 for monthly payments at 5% a year.nper: Total number of payments.pv: The loan amount (present value).fv(optional): Balance left after the last payment (default 0).type(optional): 0 (default) = payments at the end of each period, 1 = at the start.
Example
=PMT(6%/12, 36, 20000) → -608.44 (a monthly payment)