PPMT(rate, per, nper, pv [,fv] [,type])
Returns the fixed payment made in each period of a series of equal cash flows at regular intervals.
|rate||The fixed interest rate per period.|
|per||The period and must be in the range 1 to nper.|
|nper||The total number of payments.|
|pv||The present value.|
|fv||(Optional) The future value (or cash balance) after all the payments.|
|type||(Optional) The number indicating when the payments are due:|
0 = the end of the period (default)
1 = the start of the period
|* A negative number represents any cash you pay out.|
* A positive number represents any cash you receive (start with or end with).
* The "rate" and "nper" MUST be expressed in the same units of time: years, months or days.
* The present value is the total amount that the payments are worth now.
* If "fv" is left blank, then 0 is used.
* If "type" is left blank, then 0 is used.
* If "type" = 0, then payments are made in arrears.
* If you calculate the PPMT and IPMT for the same period you can add them together to get the total amount.
* In Excel 2010 the accuracy of this function was improved.
* The equivalent VBA function is PPMT
* For the Microsoft documentation refer to support.microsoft.com
|1 - How much principal is paid back in the first month of a 2 year £2,000 loan at 10% annual interest:|
2 - How much principal is paid back in the first year of a 2 year £2,000 loan at 10% annual interest:
3 - How much principal is paid back in the first month if I take out a loan for £10,000 over 5 years with an annual interest rate of 10%.
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