|
Returns
the amount of principal paid on a loan over a period of time.
Note:
Interest rate calculation methods differ from
country to country. This function calculates an interest rate based
on US interest rate standards.
Syntax
PPmt(
n1
,
n2
,
n3
,
n4
,
n5
)
Parameters
|
Parameter
|
Description
|
|
n1
|
A numeric value or expression representing
the principal amount of the loan.
|
|
n2
|
A numeric value or expression representing
the annual interest rate.
|
|
n3
|
A numeric value or expression representing
the amount of the monthly payment.
|
|
n4
|
A numeric value or expression representing
the first month in which a payment will be made.
|
|
n5
|
A numeric value or expression representing
the number of months for which to calculate.
|
The function returns an error if either
of the following conditions are true:
-
n1
,
n2
,
or
n3
are negative or 0.
-
Either
n4
or
n5
is negative.
If
any parameter is null, the function returns null. If the payment
amount (
n3
) is less than the monthly interest load,
the function returns
0
.
Note:
FormCalc
follows the IEEE-754 international standard when handling floating
point numeric values. For more information, see
Number literals
.
Examples
The
following expressions are examples that use the
PPmt
function:
|
Expression
|
Returns
|
|
PPmt(30000, 0.085, 295.50, 7, 3)
|
261.6160716858
, which is
the amount of principal repaid on a $30,000 loan at 8.5% for the three
months between the seventh month and the tenth month of the loan’s
term.
|
|
PPmt(160000, 0.0475, 980, 24, 12)
|
4656.19166430515
, which
is the amount of principal repaid during the third year of the loan.
|
|
PPmt(15000, 0.065, 65.50, 15, 1)
|
0
, because in this case
the monthly payment is less than the interest the loan accrues during the
month, therefore, no part of the principal is repaid.
|
|
|
|
