> For the complete documentation index, see [llms.txt](https://docs.fabricplan.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.fabricplan.com/documentation/plan/planning-sheets/formula-syntax/math-functions/pmt.md).

# PMT

The *PMT* function calculates the periodic payment amount for a loan based on a constant interest rate and a fixed payment schedule. It determines the amount to be paid in each period to repay a loan or investment over time. This function is commonly used in financial planning, loan analysis, and investment calculations.

#### Syntax

```
PMT(rate:number, nper:number, pv:number, fv:number, type:number)
```

#### Arguments

* `rate`: The interest rate for each period.
* `nper`: The total number of payment periods.
* `pv`: The present value or initial investment amount. Cash outflows are considered negative, and cash inflows are considered positive.
* `fv` (Optional): The future or residual value. If omitted, the default value is 0.
* `type` (Optional): Indicates when payments are made. Use 0 for payments at the end of the period and 1 for payments at the beginning of the period. If omitted, the default value is 0.

#### Return value

Returns the periodic payment amount for a loan or investment.

#### Example

```
PMT(Rate Of Interest, Number Of Periods, Initial)
```

In this example, the *PMT Result* measure is created using the PMT function, which calculates the periodic payment amount based on the values in *Rate Of Interest*, *Number Of Periods*, and *Initial*.

<figure><img src="/files/TrcoMF34rtabxoFMBPRW" alt=""><figcaption></figcaption></figure>

#### Excel equivalent

[PMT](https://support.microsoft.com/en-us/office/pmt-function-0214da64-9a63-4996-bc20-214433fa6441)


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