R: Periodic Payment of an Annuity.

PMT {DescTools} | R Documentation

## Periodic Payment of an Annuity.

### Description

`PMT` computes the periodic payment of an annuity. `IPMT` calculates what portion of a period payment is going towards interest in a particular period and `PPMT` what portion of a period payment is going towards principal in a particular period. `RBAL` yields the remaining balance in a particular period.

### Usage

    PMT(rate, nper, pv, fv = 0, type = 0)
    IPMT(rate, per, nper, pv, fv = 0, type = 0)
    PPMT(rate, per, nper, pv, fv = 0, type = 0)
    RBAL(rate, per, nper, pv, fv = 0, type = 0)

### Arguments

`rate` | specifies the interest rate.
`per` | specifies the period of the payment to be applied to interest or to principal.
`nper` | specifies the number of payment periods.
`pv` | specifies the present value or the lump-sum amount that a series of future payments is worth currently. `pv` can be 0 if a positive `fv` argument is included.
`fv` | specifies the future value or a cash balance that you want to attain after the last payment is made. Default is 0.
`type` | specifies the number 0 or 1 and indicates when payments are due. Default is 0.

### Value

a numeric value

### Author(s)

Andri Signorell <andri@signorell.net>

### See Also

`NPV`, `SLN`

### Examples

    # original principal:    20'000
    # loan term (years):     5
    # annual interest rate:  8%
    # annual payment:        -4'156.847

    # simple amortization schedule
    cbind(
      year      = 1:5,
      payment   = PMT(rate=0.08, nper=5, pv=20000, fv=-5000, type=0),
      interest  = IPMT(rate=0.08, per=1:5, nper=5, pv=20000, fv=-5000, type=0),
      principal = PPMT(rate=0.08, per=1:5, nper=5, pv=20000, fv=-5000, type=0),
      balance   = RBAL(rate=0.08, per=1:5, nper=5, pv=20000, fv=-5000, type=0)
    )

    #     year   payment   interest principal   balance
    # [1,]    1 -4156.847 -1600.0000 -2556.847 17443.153
    # [2,]    2 -4156.847 -1395.4523 -2761.395 14681.759
    # [3,]    3 -4156.847 -1174.5407 -2982.306 11699.452
    # [4,]    4 -4156.847  -935.9562 -3220.891  8478.562
    # [5,]    5 -4156.847  -678.2849 -3478.562  5000.000

[Package DescTools version 0.99.36 Index]