PMT function

PRO BASIC

The PMT function in Jspreadsheet Formulas Pro is a tool that helps you calculate the regular payment amount for a loan or mortgage. It operates on the principle of constant payments and a fixed interest rate. By inputting the interest rate, the total number of payment periods, and the principal loan amount into the PMT function, it will return the regular payment amount. This is particularly useful for understanding your financial commitments over the life of a loan.

Documentation

Calculates the payment for a loan based on constant payments and a constant interest rate.

Syntax

PMT(rate, nper, pv, [fv], [type])

Parameter	Description
`rate`	The interest rate for the loan.
`nper`	The total number of payments (the loan term) for the loan.
`pv`	The present value or principal of the loan.
`[fv]`	Optional. The future value or cash balance you want to attain after the last payment is made. If omitted, defaults to 0.
`[type]`	Optional. When payments are due. 0 or omitted means at the end of the period, 1 means at the beginning of the period.

Behavior

The PMT function calculates the payment for a loan based on constant payments and a constant interest rate. The behavior of the PMT function in various scenarios is as follows:

Empty cells: If any of the required arguments in the PMT function is an empty cell, the function will return an error.
Text: If any of the required arguments in the PMT function is text, the function will return an error.
Booleans: PMT function does not support boolean values. If boolean values are used, the function will return an error.
Errors: If any of the required arguments in the PMT function is an error, the function will return an error.
Negative Values: If the rate or number of periods is a negative value, the PMT function will return a '#NUM!' error.

Common Errors

Error	Description
#DIV/0!	This error occurs if division by zero happens in the calculation, usually when nper = 0.
#VALUE!	This error occurs if any of the arguments passed to the `PMT` function is non-numeric or is a text.
#NUM!	This error occurs if the rate or number of periods is a negative value.

Best practices

Always ensure that all required arguments are provided to the PMT function to prevent errors.

Be aware that PMT returns a negative value, as it represents outgoing payments. If you need a positive result, you can adjust it by adding a negative sign before the function.

Always check that the rate and number of periods are not negative values as it will return a '#NUM!' error.

Consider dividing the interest rate by the number of periods within a year if you're dealing with annual interest rates and monthly payments.

Usage

A few examples using the PMT function.

PMT(0.05/12, 12*30, -100000)  
// Returns the monthly payment for a $100,000 loan at 5% annual interest over 30 years.  

PMT(0.1/12, 24, -5000, 1000, 1)  
// Returns the monthly payment for a $5,000 loan at 10% annual interest over 2 years, with a target future value of $1,000, and payments made at the beginning of each period.

Interactive Spreadsheet Demo

<html>
<script src="https://jspreadsheet.com/v11/jspreadsheet.js"></script>
<script src="https://jsuites.net/v5/jsuites.js"></script>
<link rel="stylesheet" href="https://jsuites.net/v5/jsuites.css" type="text/css" />
<link rel="stylesheet" href="https://jspreadsheet.com/v11/jspreadsheet.css" type="text/css" />

<link rel="stylesheet" href="https://fonts.googleapis.com/css?family=Material+Icons" />
<script src="https://cdn.jsdelivr.net/npm/@jspreadsheet/formula-pro/dist/index.min.js"></script>

<div id="spreadsheet"></div>

<script>
// Set your JSS license key (The following key only works for one day)
jspreadsheet.setLicense('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');

// Set the extensions
jspreadsheet.setExtensions({ formula });

// Create a new spreadsheet
jspreadsheet(document.getElementById('spreadsheet'), {
  worksheets: [{
    data: [
    [
        "Loan Amount",
        "Annual Rate",
        "Years",
        "Monthly Payment"
    ],
    [
        250000,
        0.045,
        30,
        "=PMT(B2/12,C2*12,-A2)"
    ],
    [
        150000,
        0.035,
        15,
        "=PMT(B3/12,C3*12,-A3)"
    ],
    [
        75000,
        0.055,
        10,
        "=PMT(B4/12,C4*12,-A4)"
    ]
]
  }]
});
</script>
</html>

import React, { useRef } from "react";
import { Spreadsheet, Worksheet, jspreadsheet } from "@jspreadsheet/react";
import formula from "@jspreadsheet/formula-pro";
import "jsuites/dist/jsuites.css";
import "jspreadsheet/dist/jspreadsheet.css";

// Set license
jspreadsheet.setLicense('NWQzODRmZGFhNDExZGYwZmVmYWEyZmRlODE1NmJmMGVhYzlmZTRlMGYzNmJhZjk1ZjJmOGRlNDhmNmVmYWE4ODJlYzM2NWY3ZDhkN2Q3MTcyYzQ2ZThlOTY5ZGRkMzEwZWU1MDZjMzE1ZWRmMjlhZDk1ZWI0NDYxZjQyNjk2NzksZXlKamJHbGxiblJKWkNJNklpSXNJbTVoYldVaU9pSktjM0J5WldGa2MyaGxaWFFpTENKa1lYUmxJam94TnpVNE5UQXpPVGswTENKa2IyMWhhVzRpT2xzaWFuTndjbVZoWkhOb1pXVjBMbU52YlNJc0ltTnZaR1Z6WVc1a1ltOTRMbWx2SWl3aWFuTm9aV3hzTG01bGRDSXNJbU56WWk1aGNIQWlMQ0p6ZEdGamEySnNhWFI2TG1sdklpd2lkMlZpWTI5dWRHRnBibVZ5TG1sdklpd2lkMlZpSWl3aWJHOWpZV3hvYjNOMElsMHNJbkJzWVc0aU9pSXpOQ0lzSW5OamIzQmxJanBiSW5ZM0lpd2lkamdpTENKMk9TSXNJbll4TUNJc0luWXhNU0lzSW1Ob1lYSjBjeUlzSW1admNtMXpJaXdpWm05eWJYVnNZU0lzSW5CaGNuTmxjaUlzSW5KbGJtUmxjaUlzSW1OdmJXMWxiblJ6SWl3aWFXMXdiM0owWlhJaUxDSmlZWElpTENKMllXeHBaR0YwYVc5dWN5SXNJbk5sWVhKamFDSXNJbkJ5YVc1MElpd2ljMmhsWlhSeklpd2lZMnhwWlc1MElpd2ljMlZ5ZG1WeUlpd2ljMmhoY0dWeklpd2labTl5YldGMElsMHNJbVJsYlc4aU9uUnlkV1Y5');

// Set the extensions
jspreadsheet.setExtensions({ formula });

export default function App() {
    // Spreadsheet array of worksheets
    const spreadsheet = useRef();

    // Worksheet data
    const data = [
    [
        "Loan Amount",
        "Annual Rate",
        "Years",
        "Monthly Payment"
    ],
    [
        250000,
        0.045,
        30,
        "=PMT(B2/12,C2*12,-A2)"
    ],
    [
        150000,
        0.035,
        15,
        "=PMT(B3/12,C3*12,-A3)"
    ],
    [
        75000,
        0.055,
        10,
        "=PMT(B4/12,C4*12,-A4)"
    ]
];

    // Render component
    return (
        <Spreadsheet ref={spreadsheet}>
            <Worksheet data={data} />
        </Spreadsheet>
    );
}

<template>
    <Spreadsheet ref="spreadsheet">
        <Worksheet :data="data" />
    </Spreadsheet>
</template>

<script>
import { Spreadsheet, Worksheet, jspreadsheet } from "@jspreadsheet/vue";
import "jsuites/dist/jsuites.css";
import "jspreadsheet/dist/jspreadsheet.css";
import formula from "@jspreadsheet/formula-pro";

// Set license
jspreadsheet.setLicense('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');

// Set the extensions
jspreadsheet.setExtensions({ formula });

export default {
    components: {
        Spreadsheet,
        Worksheet,
    },
    data() {
        // Worksheet data
        const data = [
    [
        "Loan Amount",
        "Annual Rate",
        "Years",
        "Monthly Payment"
    ],
    [
        250000,
        0.045,
        30,
        "=PMT(B2/12,C2*12,-A2)"
    ],
    [
        150000,
        0.035,
        15,
        "=PMT(B3/12,C3*12,-A3)"
    ],
    [
        75000,
        0.055,
        10,
        "=PMT(B4/12,C4*12,-A4)"
    ]
]

        return {
            data
        };
    }
}
</script>

import { Component, ViewChild, ElementRef } from "@angular/core";
import jspreadsheet from "jspreadsheet";
import * as formula from "@jspreadsheet/formula-pro";

// Set your JSS license key (The following key only works for one day)
jspreadsheet.setLicense('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');

// Set the extensions
jspreadsheet.setExtensions({ formula });

@Component({
    standalone: true,
    selector: "app-root",
    template: `<div #spreadsheet></div>`
})
export class AppComponent {
    @ViewChild("spreadsheet") spreadsheet: ElementRef;
    // Worksheets
    worksheets: jspreadsheet.worksheetInstance[];

    // Create a new data grid
    ngAfterViewInit() {
        // Create spreadsheet
        this.worksheets = jspreadsheet(this.spreadsheet.nativeElement, {
            worksheets: [{
                data: [
    [
        "Loan Amount",
        "Annual Rate",
        "Years",
        "Monthly Payment"
    ],
    [
        250000,
        0.045,
        30,
        "=PMT(B2/12,C2*12,-A2)"
    ],
    [
        150000,
        0.035,
        15,
        "=PMT(B3/12,C3*12,-A3)"
    ],
    [
        75000,
        0.055,
        10,
        "=PMT(B4/12,C4*12,-A4)"
    ]
]
            }]
        });
    }
}

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