PPMT

Description: Returns the principal payment for a specific period of an investment based on periodic constant payments and a constant interest rate.

Syntax: PPMT(Rate, Per, Nper, PV, Fv, Type])

For a more complete description of the arguments in PPMT, see the PV function.
Rate is the interest rate per period.
Per specifies the period and must be in the range 1 to Nper.
Nper is the total number of payment periods in an annuity.
PV is the present value - the total amount that a series of future payments is worth now.
Fv is the future value, or a cash balance you want to attain after the last payment is made.
Type is the number 0 or 1 and indicates when payments are due.

Set Type equal to	If payments are due
0 or omitted	At the end of the period
1	At the beginning of the period

Remarks:

Make sure that you are consistent about the units you use for specifying Rate and Nper. If you make monthly payments on a four-year loan at 12 percent annual interest, use 0.12/12 for Rate and 4*12 for Nper. If you make annual payments on the same loan, use 0.12 for Rate and 4 for Nper.

When used in a RENO flowchart, the parameters must evaluate to numerical values. They can include:

Examples:

PPMT(.10/12, 1, 2*12, 2000,0,0) = -75.62

PPMT(.08, 10, 10, 200000,0,0) = -27,598.05