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PPMT

Syntax:

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

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

Arguments:

Name

Type

Description

rate

number

The interest rate per period.

per

number

The the period and shall be in the range 1–nper.

nper

number

The total number of payment in an annuity.

pv

number

The present value, or the total amount that a series of future payments is worth now.

fv

number

The future value, or a cash balance to be attained after the last payment is made. If omitted, it is assumed to be 0 (i.e., the future value of a loan, for example, is 0).

type

number

The timing of the payment, truncated to integer, as follows:

Value

Timing

0

Payment at the end of the period

1

Payment at the beginning of the period

 

 

Return Type and Value: number – The payment on the principal for a given period for an investment based on periodic, constant payments and a constant interest rate.

However, if type is any number other than 0 or 1, #NUM! is returned.

[Example:

PPMT(0.1/12,1,2*12,2000) results in -75.62
PPMT(0.08,10,10,200000) results in -27,598.05

end example]