# Documentation/Calc Functions/PMT

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## Function name:

PMT

## Category:

Financial Analysis

## Summary:

Calculates the periodic payment for an annuity with constant interest rates.

## Syntax:

PMT(**Rate**; **NPer**; **PV**[; [**FV**] [; **Type**] ])

## Returns:

Returns a real number (in currency units) which is the payment made each period for investment with given parameters.

## Arguments:

**Rate** is a real number (expressed as a percentage or fraction) or a reference to the cell containing that number which is the periodic interest rate.

**NPer** is a real number or a reference to the cell containing that number which is the number of periods in which annuity is paid.

**PV** is a real number or a reference to the cell containing that number which is the present cash value in a sequence of payments.

**FV** is a real number or a reference to the cell containing that number which is the desired value (future value) at the end of the periods. If it is omitted, then the function uses 0.

**Type** is the due date of the payment at the beginning or end of each period. If it is omitted, then the function uses 0.

Type | Maturity Date |
---|---|

0 | due at the end |

1 | due at the beginning |

- If
**NPer**is 0 then the function returns an error value. - If
**Type**is anything accept 0 or 1, then the function returns an error value.

## Additional details:

- PMT solves the following equation for Pmt:

## Examples:

Formula | Description | Returns |
---|---|---|

=PMT(1.99%/12;36;25000;30000;1) | The function calculates the periodic payments at a yearly interest rate of 1.99% if the payment time is 3 years and the cash value is 25,000 currency units. There are 36 months as 36 payment periods, and the interest rate per payment period is 1.99%/12 and the desired value at the end of the period as 30000. (due at the beginning) | -1,522.83 (currency units) |

=PMT(1.99%/12;36;25000) | The function calculates the periodic payments at a yearly interest rate of 1.99% if the payment time is 3 years and the cash value is 25,000 currency units. There are 36 months as 36 payment periods, and the interest rate per payment period is 1.99%/12, and the desired value at the end of the period as 0 by default. (due at the end) | -715.96 (currency units) |

## Related LibreOffice functions:

## ODF standard:

## Equivalent Excel functions:

PMT