Grammatical parameters

● Loan interest rate (term interest rate).

● The total repayment period of the loan (total years or leaseback times).

● Present value (lease principal), or the cumulative sum of present values of a series of future payments, also known as principal.

● It is the future value (residual value), or the expected cash balance after the last payment. If Fv is omitted, it is assumed that its value is zero, that is, the future value of the loan is zero.

● The number 0 or 1 is used to specify whether the payment time of each period is at the beginning or the end. 1 stands for the beginning (prepaid: the first day of each period), and none or 0 stands for the end (paid later: the last day of each period).

Parameter description

The money returned by PMT includes principal and interest, but does not include tax, retention money or some loan-related expenses.

The consistency between the specified ratio and nper unit shall be confirmed. For example, for a loan with an annual interest rate of 12% for four years, if it is paid monthly, the interest rate should be12/12, and the nper should be 4 *12; If it is paid annually, the interest rate should be 12% and nper should be 4.