Financial
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=PPMT()
Returns the payment on the principal for a given period for an investment based on periodic, constant payments and a constant interest rate.
Applies To:
Excel for Microsoft 365Excel for Microsoft 365 for MacExcel 2024Excel 2024 for MacExcel 2021Excel 2021 for MacExcel 2019Excel 2016
=PPMT(rate, per, nper, pv, [fv], [type])
Hover argument names in the table for details.
Output typeNumber
Popularity45 / 100
VolatileNo
Dynamic ArrayNo
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◧ Arguments
| Argument | Type | Required | Description |
|---|---|---|---|
rate |
Number | Required | The interest rate per period. |
per |
Number | Required | Specifies the period and must be in the range 1 to nper. |
nper |
Number | Required | The total number of payment periods in an annuity. |
pv |
Number | Required | The present value — the total amount that a series of future payments is worth now. |
fv |
Number | Optional | The future value, or a cash balance you want to attain after the last payment is made. If fv is omitted, it is assumed to be 0 (zero), that is, the future value of a loan is 0. |
type |
Number | Optional | The number 0 or 1 and indicates when payments are due. 0 or omitted = At the end of the period; 1 = At the beginning of the period. |
▣ Examples
▦ Data
| Cell | Value |
|---|---|
A2 |
10% |
B2 |
Annual interest rate |
A3 |
2 |
B3 |
Number of years for the loan |
A4 |
$2,000.00 |
B4 |
Amount of loan |
A5 |
10% |
B5 |
Annual interest rate |
A6 |
2 |
B6 |
Number of years for the loan |
A7 |
$2,000.00 |
B7 |
Amount of loan |
Principal payment for month 1 of the loan
=PPMT(A2/12, 1, A3*12, A4)
Result:
($75.62)
Principal payment for year 10 of the loan
=PPMT(A8, A9, 10, A10)
Result:
($27,598.05)
§ Remarks
- 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.
✦ Tips
- 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.
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