Pmt

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.