# Pmt

The **Pmt** function returns the periodic payment for an investment.

You can use it to calculate constant payments for an investment or a loan, based on the loan amount, number of periods, and constant interest rate.

To determine how much of the payment is allocated to interest and how much to principal, use the [ipmt](https://support.meetuma.ai/uma-knowledgebase/data-and-reporting/analytics-pro/functions/financial-functions/ipmt "mention") and [ppmt](https://support.meetuma.ai/uma-knowledgebase/data-and-reporting/analytics-pro/functions/financial-functions/ppmt "mention") functions.

### Syntax

`Pmt(rate, nperiods, pv, [fv], [type])`

The **Pmt** function has the following arguments:

|       |                     |
| ----- | ------------------- |
| **0** | End of period       |
| **1** | Beginning of period |

### Notes

* Be consistent with the units for **rate** and **nperiods** arguments. If you make monthly payments on a two-year loan at an annual interest rate of 7%, use the **rate** calculation of 0.07/12 and **nperiods** calculation of 2\*12. For annual payments on the same loan, use the **rate** of 0.07 and **nperiods** of 2.
* **Pmt** returns the payment calculation that includes both the principal and interest portions. It does not include taxes, reserve payments, or fees.
* To calculate the total amount paid over the duration of the loan, multiply the returned **Pmt** value by **nperiods**.

### Examples

`Pmt(.07/12,2*12,10000)`

The monthly payment for a two-year loan of $10,000, with an annual interest rate of 7% is $447.73.

`Pmt(.07,2,10000)`

The annual payment for a two-year loan of $10,000, with an annual interest rate of 7% is $5,530.92.

<figure><img src="https://files.readme.io/397e8e4-function-pmt-example.png" alt=""><figcaption></figcaption></figure>

The yearly payment for a loan of $100,000, with an annual interest rate of 10% over 30 years, compounded yearly, is $10,607.92. Same conditions at half the time (15 years) result in a yearly payment of $13,147.38.