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PMT Calculator
Result
Chart
Show formula & working
Build an amount: PMT = FV × r ÷ ((1 + r)n − 1) · Repay: PMT = PV × r ÷ (1 − (1 + r)−n)
r = rate per period, n = number of payments; for payments at the start of each period divide by (1 + r). Same as Excel PMT with type 0 or 1.Details
How this works
PMT finds the level payment that grows to a target or pays off a sum. Payments at the start of each period (annuity due) earn one more period of growth, so they are slightly smaller.
The result matches Excel's PMT function.
Frequently asked questions
Ordinary annuity or annuity due?
SIPs and rents are usually paid at the start of a period (due); loan EMIs at the end (ordinary).
Why is the Excel answer negative?
Excel shows money paid out as negative. Here it is shown as a positive payment.