Fpmt()

Description:

The function equals the Excel PMT function.

Syntax:

Fpmt(rate,nper,pv,fv)

Note:

The function calculates each period’s amount required to pay off an investment loan, based on a constant interest rate and the constant periodic payments.

Parameters:

rate

The interest rate per period; it is a fixed value

nper

The number of periods over which the investment (or loan) requires or is to be paid

pv

The present value of the loan /investment, known as the principal. That is the money that already exist when the payment for an investment (or a loan) begins, or the total amount of present values of a series of future payments

fv

The future value of the loan/investment, or the cash balance you hope to achieve after the final payment. If omitted, its value will be assumed as zero (for example the future value of a loan can be zero)

per

The number of period in which the principal appears. Its value must between 1 and nper

Options:

@t

Indicating the payment type, it corresponds to Excel type parameter. If using the option, choose type 1; if not, choose type 0.

@i(rate,nper:per,pv,fv)

This option makes the function equivalent to Excel IPMT function and calculates the interest payment for a given period, with constant periodic payment and a constant interest rate

@p(rate,nper:per,pv,fv)

This option makes the function equivalent to Excel PPMT function and calculates the principal amount during a specific period of an investment or loan that is paid in constant periodic payments, with a constant interest rate

Example:

Fpmt@t(0.07/12, 10, 200000)

-20647.264618755307

Fpmt@i(0.1/12,36:1, 8000)

-66.66666666666666

Fpmt@p(0.07/12,12*10:1,120000)

-693.3017506234848