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PMT1

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(PMT1(int,per,pv))

 

Returns the amount of the periodic payment needed to pay off the present value, pv, based on the periodic interest rate, int, for the number of compounding periods, per.

 

In the following example, PMT1 returns the monthly payment amount for a loan of $12,000 with a 12% annual interest rate and five years to pay it off. The value of vpmt1 (the monthly payment) is $266.93.

 

SET VAR vpmt1 = (PMT1(.01,60,12000))