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# Fpmt()

Description:

The function equals the Excel PMT function.

Syntax:

Fpmt(rate,nper,pv,fv)

Note:

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

Parameter:

 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 periods in which the principal appears. Its value must between 1 and nper

Option:

 @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,) -20647.3 Fpmt@i(0.1/12,36,1, 8000,) -66.6667 Fpmt@p(0.07/12,12*10,1,120000,) -693.302