# PMT

Formulas / PMT
To calculate periodic loan payments.
`PMT(rate, nper, pv, fv, type)`
• rate - interest rate of the loan
• nper - total number of loan payments
• pv - present value or principal (current total worth of a series of future payments)
• fv - future value (cash balance at the end of the last payment)
• type - 0 to indicate payments are due immediately, 1 to indicate payments are due at the end of the period, 0 by default

## Examples

• `=PMT(A2/12,A3,A4)`

This PMT function can be used to calculate monthly loan payments with terms given by arguments from A2:A4.

• `=PMT(A2/12,A3,A4,,1)`

If you need to calculate monthly loan payments with terms given by arguments from A2:A4 but with payments due at the beginning of the period, you can use the above formula.

## Summary

The PMT function is a Sourcetable function for calculating loan payments. It works by using constant payments and a constant interest rate to determine the payment amount.

• The PMT function determines payments for a loan, assuming both constant payments and a constant interest rate.
• Note that the PMT function doesn't include taxes, reserve payments, or fees.
• Be careful with units when using PMT. Make sure to use consistent units!