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PMT function in Google Sheets

Calculates the periodic payment for an annuity investment based on constant-amount periodic payments and a constant interest rate.

=PMT(rate, number_of_periods, present_value, [future_value, end_or_beginning])

PMT syntax and parameters

Five arguments, three required.

  • ratenumberRequired

    The interest rate.

  • number_of_periodsnumberRequired

    The number of payments to be made.

  • present_valuenumberRequired

    The current value of the annuity.

  • future_valuenumberOptional

    [ OPTIONAL ] - The future value remaining after the final payment has been made.

  • end_or_beginningnumberOptional

    [ OPTIONAL - 0 by default ] - Whether payments are due at the end (0) or beginning (1) of each period.

PMT examples

Formulas you'll actually reuse.

  1. Monthly payment on a $320k, 30-year loan at 4.5%:

    =PMT(4.5%/12, 360, -320000)

    Result1621.39

  2. What to save monthly to hold $15,000 in two years:

    =PMT(3%/12, 24, 0, 15000)

    Result-607.03

PMT in Excel

Same name — your formula ports as-is.

Try PMT in the playground

Edit the example — nothing to install.

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

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Related functions

More ways Google Sheets gets this done.