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Excel

PPMT function in Excel

Returns the payment on the principal for an investment for a given period

=PPMT(rate, per, nper, pv, [fv], [type])

PPMT syntax and parameters

Six arguments, four required.

  • ratenumberRequired

    The interest rate per period.

  • pernumberRequired

    Specifies the period and must be in the range 1 to nper.

  • npernumberRequired

    The total number of payment periods in an annuity.

  • pvnumberRequired

    The present value — the total amount that a series of future payments is worth now.

  • fvnumberOptional

    The future value, or a cash balance you want to attain after the last payment is made. If fv is omitted, it is assumed to be 0 (zero), that is, the future value of a loan is 0.

  • typenumberOptional

    The number 0 or 1 and indicates when payments are due.

PPMT examples

Formulas you'll actually reuse.

  1. The principal share of the first payment on a $250k, 30-year mortgage at 5%:

    =PPMT(5%/12, 1, 360, -250000)

    Result300.39

  2. The same in month 120 — principal share grows as interest shrinks:

    =PPMT(5%/12, 120, 360, -250000)

    Result492.69

PPMT in Google Sheets

Same name — your formula ports as-is.

Try PPMT in the playground

Edit the example — nothing to install.

Preloaded with the PPMT formula from Example 1 — change anything and watch it respond.

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Related functions

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