Purpose
Get principal payment in given period
Return value
The principal payment
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
=PPMT(rate, per, nper, pv, [fv], [type])
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.
