## Purpose

## Return value

## Arguments

*rate*- The interest rate per period.*per*- The payment period of interest.*nper*- The total number of payments for the loan.*pv*- The present value, or total value of all payments now.*fv*- [optional] The cash balance desired after last payment is made. Defaults to 0.*type*- [optional] When payments are due. 0 = end of period. 1 = beginning of period. Default is 0.

## Syntax

## Usage notes

The Excel PPMT function is used to calculate the principal portion of a given loan payment. For example, you can use PPMT to get the principal amount of a payment for the first period, the last period, or any period in between. The period of interest is provided with the *per *argument, which must be a number between 1 and the total number of payments (*nper*).

### Notes

- Be consistent with inputs for
*rate.*For example, for 5-year loan with 4.5% annual interest, enter the*rate*as 4.5%/12. - By convention, the loan value (
*pv*) is entered as a negative value.