PMT function - Zoho Sheet - Help Guide

PMT

Returns the payment per period for a constant period payment and constant interest rate.

 

Syntax


PMT(rate; nper; pv; [fv]; [type])

rate: The interest rate per period. Eg., 4%

nper: The total number of payment periods in the given term. Eg., 3
pv: The current value of the annuity. Eg., 10000
fv: The cash balance you want to maintain at the end of term. Defaults to 0 if omitted.

type: Determines when the payments are made. Defaults to 0 if omitted.

0 - at the end of each period
1 - at the start of each period  

 

Remarks

  • To get the total payment, multiply the result by the given nper (number of periods).


Examples  

 

Formula

Result

=PMT(A2/12;B2;C2;D2;E2)

-$3,355.58

=PMT(A3;B3;C3;D3;E3)

-$71,299.57

=PMT(A4;B4;C4;D4;E4)

-$1,096.70


Get a hands-on experience of the function in the embedded range below.


 

Possible Errors

 

Errors

Meaning

#N/A!

  • The function could not find the value it was asked to look for. Commonly occurs in VLOOKUP and similar functions.

#NAME!

  • The function name is incorrect or invalid.

  • The given defined name (if any) is invalid.

  • There is a typo in the defined name used in the function.

  • Double quotes are missing for text values in the function.

  • Colon missing in a cell range reference.

#VALUE!

  • The given argument's data type is incorrect or invalid.
    For example, the function =DATE(A1:A3) will return a #VALUE error when a text value is present in the range.

#REF!

  • The given cell reference is incorrect or invalid. This error may occur when a cell/range has been deleted, moved, or pasted over.

 

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