| Applying science to business management |
   
pmt
Format: pmt( pv, rate, term )
Arguments: (real) pv Principal
(real) rate Periodic interest rate (1=100%)
(real) term Number of periods
Returns: (real) The periodic payment on a loan of
principal amount pv at an interest rate of rate
over term periods
Description: The payment is calculated using the
following equation:
Examples: pmt(150000,10%/12,30*12)
= 1316.36 (monthly payment on a $150,000 home
mortgage at 10% for 30 years)
See Also: pv, fv, term,
rate, npv, irr,
cf
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