## PMT Function

The PMT function in Google Sheets calculates the periodic payment for a loan based on constant payments and a constant interest rate.

### Syntax

```
PMT(rate, number_of_periods, present_value, [future_value], [end_or_beginning])
```

`rate`

: The interest rate per period. This is a required parameter.`number_of_periods`

: The total number of payment periods. This is a required parameter.`present_value`

: The present value, or the total amount that a series of future payments is worth now. This is a required parameter.`future_value`

: (Optional) The cash balance you want to attain after the last payment is made. Default is 0.`end_or_beginning`

: (Optional) When payments are due: 0 for end of period (default), 1 for beginning of period.

### Examples

**Loan Payment Calculation**

Calculate the monthly payment on a $1000 loan with an annual interest rate of 5% over 5 years:

```
=PMT(5%/12, 60, 1000)
```

This will output approximately -$18.87.

### Notes

- PMT can be used to calculate payments for loans, mortgages, and other types of annuities.