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1. Preface
2. The Transformation Language
3. Constants
4. Operators
5. Variables
6. Dates
7. Functions
8. Creating Custom Functions
9. Custom Function API Reference 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
PowerCenter Integration Service
treats the value as 1.

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%.
The payment value is negative because these are amounts that you pay. Updated December 12, 2019

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