# 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)


---

# Agent Instructions: Querying This Documentation

If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question.

Perform an HTTP GET request on the current page URL with the `ask` query parameter:

```
GET https://docs.fabricplan.com/planning-sheets/formula-syntax/math-functions/pmt.md?ask=<question>
```

The question should be specific, self-contained, and written in natural language.
The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.

Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.