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Pmt - script and chart function

This function returns the payment for a loan based on periodic, constant payments and a constant interest rate. It cannot change over the life of the annuity. A payment is stated as a negative number, for example, -20.

Pmt(rate, nper, pv [ ,fv [ , type ] ] )

Return data type: numeric. By default, the result will be formatted as currency..

To find the total amount paid over the duration of the loan, multiply the returned pmt value by nper.

Arguments:

Argument | Description |
---|---|

rate | The interest rate per period. |

nper | The total number of payment periods in an annuity. |

pv |
The present value, or lump-sum amount, that a series of future payments is worth right now. If pv is omitted, it is assumed to be 0 (zero). |

fv |
The future value, or cash balance, you want to attain after the last payment is made. If fv is omitted, it is assumed to be 0. |

type |
Should be 0 if payments are due at the end of the period and 1 if payments are due at the beginning of the period. If type is omitted, it is assumed to be 0. |