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 Microsoft Excel > Functions > Financial > PPMT
 

PPMT(rate, per, nper, pv [,fv] [,type])

 
 Returns the payment on the principal for a given period for an investment based on periodic, constant payments and a constant interest rate.

 rateThe fixed interest rate per period.
 perThe period and must be in the range 1 to nper.
 nperThe total number of payments.
 pvThe present value.
 fvThe future value, or a cash balance you want to attain after the last payment is made.
 typeThe number indicating when the payments are due:
0 = the end of the period
1 = the start of the period

 REMARKS
 
  		• This is very similar to the PV() function.
     
  		• The "rate" and "nper" must have the same units.
     
  		• The present value is the total amount that the payments are worth now.
     
  		• If "fv" is left blank, then 0 is used.
     
  		• If "type" is left blank, then 0 is used.
     
  		• Make sure that you are consistent about the units you use for specifying rate and nper. If you make monthly payments on a four-year loan at 12 percent annual interest, use 12%/12 for rate and 4*12 for nper. If you make annual payments on the same loan, use 12% for rate and 4 for nper.
     
  		• The following formula returns the principal payment for the first month of a two-year $2,000 loan at 10 percent annual interest:

     EXAMPLES
     
     A
    1=PPMT(10%/12,1,24,2000) = ($75.62)
    2=PPMT(8%,10,10,200000) = ($27,598.05)
    		 
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