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PPmt

Returns the amount of principal paid on a loan over a period of time.

Note:

Interest rate calculation methods differ from country to country. This function calculates an interest rate based on US interest rate standards.

Syntax

PPmt(n1, n2, n3, n4, n5)

Parameters

 

Parameter	Description
n1	A numeric value or expression representing the principal amount of the loan.
n2	A numeric value or expression representing the annual interest rate.
n3	A numeric value or expression representing the amount of the monthly payment.
n4	A numeric value or expression representing the first month in which a payment will be made.
n5	A numeric value or expression representing the number of months for which to calculate.

The function returns an error if either of the following conditions are true:

•	n1, n2, or n3 are negative or 0.

•	Either n4 or n5 is negative.

If any parameter is null, the function returns null. If the payment amount (n3) is less than the monthly interest load, the function returns 0.

Note:

FormCalc follows the IEEE-754 international standard when handling floating point numeric values. For more information, see “Number literals”.

Examples

The following expressions are examples of using the PPmt function:

 

Expression	Returns
PPmt(30000, 0.085, 295.50, 7, 3)	261.6160716858, which is the amount of principal repaid on a $30,000 loan at 8.5% for the three months between the seventh month and the tenth month of the loan’s term.
PPmt(160000, 0.0475, 980, 24, 12)	4656.19166430515, which is the amount of principal repaid during the third year of the loan.
PPmt(15000, 0.065, 65.50, 15, 1)	0, because in this case the monthly payment is less than the interest the loan accrues during the month, therefore, no part of the principal is repaid.

PPmt