Loan Payment (PMT) Formula Generator
PMT calculates the periodic payment for a loan based on constant payments and a constant interest rate. Essential for mortgage calculations, car loans, and financial planning.
Syntax
=PMT(rate, nper, pv, [fv], [type])Try it — generate a PMT (Loan Payment) formula
Examples
30-year mortgage
=PMT(0.065/12, 360, -250000)Monthly payment for a $250,000 mortgage at 6.5% annual rate over 30 years (360 months).
5-year car loan
=PMT(0.049/12, 60, -35000)Monthly payment for a $35,000 car loan at 4.9% over 5 years.
Tips
- ✓Divide the annual interest rate by 12 for monthly payments.
- ✓Use a negative present value (pv) to get a positive payment result.
- ✓The result includes principal and interest but not taxes or insurance.
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