PPMT

Description Returns the principle paid on an annuity for a given period.

Syntax PPMT ( interest, per, nper, pv, [fv], [type] )

Argument Description

interest The fixed periodic interest rate.

per The period for which to return the principle.

nper The number of periods in the annuity.

pv The present value, or the amount the annuity is currently worth.

[fv] The future value, or the amount the annuity will be worth. If this argument is omitted, 0 is used.

[type] Indicates when payments are due. Use 0 if payments are due at the end of the period or 1 if payments are due at the beginning of the period. If this argument is omitted, 0 is used.

Argument	Description
interest	The fixed periodic interest rate.
per	The period for which to return the principle.
nper	The number of periods in the annuity.
pv	The present value, or the amount the annuity is currently worth.
[fv]	The future value, or the amount the annuity will be worth. If this argument is omitted, 0 is used.
[type]	Indicates when payments are due. Use 0 if payments are due at the end of the period or 1 if payments are due at the beginning of the period. If this argument is omitted, 0 is used.

Remarks The units used for interest must match those used for nper. For example, if the annuity has an 8 percent annual interest rate over a period of 5 years, specify 8 percent/12 for interest and 5*12 for nper.

Examples This function returns -321.56:

PPMT(8%/12, 2, 48, 18000)

This function returns -319.43:

PPMT(8%/12, 2, 48, 18000, 0, 1)

See Also FV, CUMIPMT, CUMPRINC, IPMT, NPER, PMT, PV, RATE