Returns
the payment for a loan based on constant payments and a constant interest
rate.
Note:
Interest rate calculation methods differ from
country to country. This function calculates an interest rate based
on U.S. interest rate standards.
Syntax
Pmt(
n1
,
n2
,
n3
)
Parameters
Parameter
Description
n1
A numeric value or expression representing
the principal amount of the loan.
n2
A numeric value or expression representing
the interest rate per period of the investment.
n3
A numeric value or expression representing
the total number of payment periods.
The function returns an error if any parameter
is negative or 0. If any parameter is null, the function returns
null.
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
Pmt
function:
Expression
Returns
Pmt(150000, 0.0475 / 12, 25 * 12)
855.17604207164
, which
is the monthly payment on a $150,000 loan at 4.75% annual interest,
repayable over 25 years.
Pmt(25000, 0.085, 12)
3403.82145169876
, which
is the annual payment on a $25,000 loan at 8.5% annual interest, repayable
over 12 years.
