PMT (Payment Amount)
Calculates the payment for a loan based on constant payments and a constant interest rate.
Example
PMT = [ - FV - PV *(( 1 + rate ) ^ Nper)] / [ ( 1+ rate *type) * [ ( ( ( 1 + rate ) ^ Nper ) -1 ) / rate ] ]
FV = Future Value
PV = Present Value
Rate = Interest Rate per period
Nper = Number of periods
type = Payment At (Beginning = 1 , End = 0)
pmt = Payment Value
Example
Amount of loan = 100,000 Bath, Interest rate 0.5 % / month , Number of months of payments 360 Months,
At the beginning of the period
Solution
PMT = - 1,000,000 * ( (1 + 0.5%) ^ 30 ) / [ (1 + 0.5% * 1) * [ ( (1 + 0.5%) ^ 30 ) - 1 )/ 0.5% ] ]
PMT = 35,799.92
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