WorksheetFunction.Ppmt method (Excel)

Article
09/13/2021

Returns the payment on the principal for a given period for an investment based on periodic, constant payments and a constant interest rate.

Syntax

expression.Ppmt (Arg1, Arg2, Arg3, Arg4, Arg5, Arg6)

expression A variable that represents a WorksheetFunction object.

Parameters

Name	Required/Optional	Data type	Description
Arg1	Required	Double	Rate - the interest rate per period.
Arg2	Required	Double	Per - the period and must be in the range 1 to nper.
Arg3	Required	Double	Nper - the total number of payment periods in an annuity.
Arg4	Required	Double	Pv - the present value—the total amount that a series of future payments is worth now.
Arg5	Optional	Variant	Fv - 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.
Arg6	Optional	Variant	Type - the number 0 or 1 and indicates when payments are due.

Return value

Double

Remarks

For a more complete description of the arguments in Ppmt, see the Pv function.

The following table describes the values that can be used for Arg6.

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

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

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