Difference between revisions of "PMT()"
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==Purpose== | ==Purpose== | ||
Function to calculate the payment on a loan | Function to calculate the payment on a loan | ||
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==Syntax== | ==Syntax== | ||
PMT(<expN1>,<expN2>,<expN3>) | PMT(<expN1>,<expN2>,<expN3>) | ||
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==See Also== | ==See Also== | ||
[[CAGR()]], [[FV()]], [[LOG10()]], [[PAYMENT()]], [[PI()]], [[PV()]] | [[CAGR()]], [[FV()]], [[LOG10()]], [[PAYMENT()]], [[PI()]], [[PV()]] | ||
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==Description== | ==Description== | ||
The PMT() function is synonymous with the PAYMENT() function. It calculates the payment on a loan where <expN1> is the principal amount of the loan, <expN2> is the periodic interest rate and <expN3> is the number of payment periods of the loan. Interest rates must be converted to fractions of one (e.g. 25% = .25). | The PMT() function is synonymous with the PAYMENT() function. It calculates the payment on a loan where <expN1> is the principal amount of the loan, <expN2> is the periodic interest rate and <expN3> is the number of payment periods of the loan. Interest rates must be converted to fractions of one (e.g. 25% = .25). | ||
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==Example== | ==Example== | ||
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110.00 | 110.00 | ||
</code> | </code> | ||
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==Products== | ==Products== | ||
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[[Category:Documentation]] | [[Category:Documentation]] | ||
[[Category:Functions]] | [[Category:Functions]] | ||
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[[Category:Numeric Data Functions]] | [[Category:Numeric Data Functions]] | ||
Latest revision as of 09:09, 4 February 2013
Purpose
Function to calculate the payment on a loan
Syntax
PMT(<expN1>,<expN2>,<expN3>)
See Also
CAGR(), FV(), LOG10(), PAYMENT(), PI(), PV()
Description
The PMT() function is synonymous with the PAYMENT() function. It calculates the payment on a loan where <expN1> is the principal amount of the loan, <expN2> is the periodic interest rate and <expN3> is the number of payment periods of the loan. Interest rates must be converted to fractions of one (e.g. 25% = .25).
Example
? pmt(100,10,1) 110.00
Products
Lianja, Lianja Server
