pmt Function
Description:
The periodic investment required at a fixed interest rate to reach a future value from a present value.
Returns the solution for
c
in the equation:r=0: pv + c.n + fv = 0
r>0: pv.( 1 + r )**n + c.( 1 + r.b ).( ( 1 + r )**n - 1 )/r + fv = 0
where pv
present value
, fv future value
, r interest rate
, n number of investment periods
, c payment per period
, b=true interest payable at the beginning of each period
, b=false interest payable at the end of each period
. Returns:
Number
Parameters:
Parameter | Data Type | Description |
|---|---|---|
1 | Number | The interest rate. |
2 | Whole Number | The number of investment periods. |
3 | Number | The present value of the investment. |
4 | Number | The future value of the investment. |
5 | Boolean | Is Interest payable at the beginning of each period? |
Examples:
When using functions inside a field, remember the field brackets:
{pmt(BaseRate, InvestmentPeriods, CurrentValue, FutureValue, InterestPayable)}
Expression | Result |
|---|---|
pmt( 0.12, 12, 0, 24133.13, false ) | -1000 |
pmt( 0.11, 35, 0, 758328.81, true) | -2000 |
pmt( 0.06, 12, -1000, 3800.41, true ) | -100 |
Related Content
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Financial Functions
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Article,
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