Formula Library
PMT
financialCalculates the periodic payment amount for a loan, given interest rate, number of periods, and present value.
Syntax
=PMT(rate, nper, pv, [fv], [type])Example
Excel
=PMT(5%/12, 60, -10000)Calculates the monthly payment for a $10,000 loan at 5% annual interest over 60 months (5 years).
Tips & Notes
- →Rate must match the period (monthly rate for monthly payments)
- →Result is negative when pv is positive (outflow)
- →PV should be negative for loans to get a positive payment
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