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Transformation Language Reference

10.2.2
- 10.5.6
- 10.5.4
- 10.5.1
- 10.5
- 10.4.0
- 10.2.2 Service Pack 1
- 10.2.1

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PMT

Returns the payment for a loan based on constant payments and a constant interest rate.

Syntax

PMT( rate, terms, present value[, future value, type] )

The following table describes the arguments for this command:

Argument	Required/ Optional	Description
rate	Required	Numeric. Interest rate of the loan for each period. Expressed as a decimal number. Divide the rate by 100 to express it as a decimal number. Must be greater than or equal to 0.
terms	Required	Numeric. Number of periods or payments. Must be greater than 0.
present value	Required	Numeric. Principle for the loan.
future value	Optional	Numeric. Cash balance you want to attain after the last payment. If you omit this value, PMT uses 0.
type	Optional	Boolean. Timing of the payment. Enter 1 if the payment is at the beginning of period. Enter 0 if the payment is at the end of period. Default is 0. If you enter a value other than 0 or 1, the Data Integration Service treats the value as 1.

Return Value

Numeric.

Example

The following expression returns -2111.64 as the monthly payment amount of a loan:

PMT( 0.01, 10, 20000 )

Notes

To calculate interest rate earned in each period, divide the annual rate by the number of payments made in a year. For example, if you make monthly payments at an annual interest rate of 15%, the rate is 15%/12. If you make annual payments, the rate is 15%.

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Table of Contents

Transformation Language Reference

Transformation Language Reference

PMT

PMT

Syntax

Return Value

Example

Notes