The reason behind naming the function as PMT is because it calculates the payment amount. The payments into the investment are on a monthly basis. Present Value of an Annuity Example Suppose and annuity of 1000 will be received at the end of each year for 3 years and the interest rate is 8.
Given are the interest percentage rate per period APR 12 the total number of payments TotPmts the present value or principal of the loan PVal the future value of the loan FVal and a number that indicates whether the payment is due at the beginning or end of the payment period PayType.
Given are the interest percentage rate per period APR 12 the total number of payments TotPmts the present value or principal of the loan PVal the future value of the loan FVal and a number that indicates whether the payment is due at the beginning or end of the payment period PayType. The payments into the investment are on a monthly basis. Live Result PMTA1212A1312 0A14. We make monthly payments so we use 612 05 for Rate and 2012 240 for Nper total number of periods.