Description
Calculate the periodic payment for an annuity.
Signature
Annuity_PMT('rate', 'nper', 'pv', ['fv'], ['type'])
Parameters
| Name | Required | Type | Description |
|---|---|---|---|
| rate | Yes | double | The interest rate for the loan. |
| nper | Yes | double | The total number of payments for the loan. |
| pv | Yes | double | The present value, or the total amount that a series of future payments is worth now; also known as the principal. |
| fv | No | double | The future value, or a cash balance you want to attain after the last payment is made. |
| type | No | int | The number 0 (the end of the period) or 1 (the start of the period), indicates when payments are due. |
Example 1
Annuity_PMT(0.08 / 12, 24, 75000) Returns -3392.04