This function returns a Double Data-Type specifying the payment for an annuity based on periodic, fixed payments and a fixed interest rate. Syntax is as follows:
PMT(rate, nper, pv, fv, type) As Double
Parameters
Rate - A required parameter specifying interest rate per period.
NPer - A required parameter specifying total number of payment periods in the annuity.
PV – A required parameter specifying present value that a series of payments to be paid in the future is worth now.
FV – An optional parameter specifying future value or cash balance you want after you've made the final payment.
Due – An optional parameter. Type of payment due date that specifies when payments are due. Valied values are: 0 or omitted means payments are due at the end of the period, 1 means payments are due at the beginning of the period
For examples, please see: Mutual Fund Calculator
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