Pmt(rate, nper, pv, fv, type)
Returns the total payment (interest + principal) received per period on an annuity with constant periodic payments and fixed interest rate.
- The interest rate per period.
- The total number of periods in the annuity's lifetime.
- The present value.
- If you receive a loan, this is the loan amount as a positive number.
- If you give someone a loan, this is a negative number.
- (Optional) Future value of annuity at the end of «NPer» periods.
- If you receive a loan, this is your final balloon payment at the end as a negative number.
- If you get money back at the end, this is a positive number.
- (Optional) Indicates whether payments are at the beginning of the period.
True= Payments due at beginning of period, with first payment due immediately.
False= Payments due at end of period. (default)
You have a 30-year fixed-rate mortgage at 6.5%, on an initial loan amount of $350K. What is your monthly mortgage payment?
-Pmt(6.5%/12, 30*12, $350K) → $2212.24
Note: The result is negative since you are paying that amount each month. The loan amount is positive since you receive that amount at the present (start) period. Inflows are positive, outflows are negative.