PMT(rate, nper, pv, fv, type) Returns the periodic payment for an annuity with constant interest rates.
- rate is the periodic interest rate.
- nper is the number of periods in which annuity is paid.
- pv is the present value (cash value) in a sequence of payments.
- fv (optional) is the desired value (future value) to be reached at the end of the periodic payments. *type (optional) defines whether a payment is due at the beginning (1) or the end (0) of a period.