Calculates the periodic payment required for a recurring investment based on a constant interest rate, a number of recurring payments and a present value and either ordinary annuity or annuity due (type) indicating whether payments are due at the beginning or the end of period.
PMT('Rate', 'Nper', 'Pv' [, 'Fv' , ["Type"]])
Rate -> The interest rate
Nper -> Number of periods: the number of payments to be made
Pv -> Present value: the current value of the annuity
Fv -> [Optional] - Future value: the future value remaining after the final payment has been made. If not entered, 'Fv' is set to 0.
Type -> [Optional] type (1=pmt at beginning of period (Annuity Due), 0=pmt at end of period (Ordinary Annuity)). By default 'Type' is set to 0.
Argument 'Pv' is the leading input node.
A leading input node is a function argument, for which we assume the levels to be correct. All other input nodes need to have the same dimensionality.
Each input node can be a single number
Providing all inputs with the same dimensionality results in a noticeable performance improvement
All other inputs must not contain levels that are not in the leading input node 'Pv'.
All level values that are in the leading input node 'Pv' , must be in all the other input nodes.
(Number of Periods)
Payment at Beginning of Period (Annuity Due) = 1
Payment at End of Period (Ordinary Annuity) = 0
PMT(Rate, Nper, Pv, Fv, Type)
*the result is negative as it is marked as a payment
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