description | title | author |
---|---|---|
Learn more about: PMT |
PMT function (DAX) | Microsoft Docs |
jajin7 |
[!INCLUDEapplies-to-measures-columns-tables-visual-calculations]
Calculates the payment for a loan based on constant payments and a constant interest rate.
PMT(<rate>, <nper>, <pv>[, <fv>[, <type>]])
Term | Definition |
---|---|
rate | The interest rate for the loan. |
nper | The total number of payments for the loan. |
pv | The present value, or the total amount that a series of future payments is worth now; also known as the principal. |
fv | (Optional) The future value, or a cash balance you want to attain after the last payment is made. If fv is omitted, it is assumed to be BLANK. |
type | (Optional) The number 0 or 1 which indicates when payments are due. If type is omitted, it is assumed to be 0. The accepted values are listed below this table. |
The type parameter accepts the following values:
Set type equal to | If payments are due |
---|---|
0 or omitted | At the end of the period |
1 | At the beginning of the period |
Note: For a more complete description of the arguments in PMT, see the PV function.
The amount of a single loan payment.
-
The payment returned by PMT includes principal and interest but no taxes, reserve payments, or fees sometimes associated with loans.
-
Make sure that you are consistent about the units you use for specifying rate and nper. If you make monthly payments on a four-year loan at an annual interest rate of 12 percent, use 0.12/12 for rate and 4*12 for nper. If you make annual payments on the same loan, use 0.12 for rate and 4 for nper.
-
type is rounded to the nearest integer.
-
An error is returned if:
- nper < 1
Tip: To find the total amount paid over the duration of the loan, multiply the returned PMT value by nper.
- [!INCLUDE function-not-supported-in-directquery-mode]
Data | Description |
---|---|
8% | Annual interest rate |
10 | Number of months of payments |
\$10,000 | Amount of loan |
The following DAX query:
EVALUATE
{
PMT(0.08/12, 10, 10000, 0, 1)
}
Returns the monthly payment amount, paid at the beginning of the month, for a loan with the terms specified above.
[Value] |
---|
-1030.16432717797 |
Note: 1030.16432717797 is the payment per period. As a result, the total amount paid over the duration of the loan is approximately 1030.16 * 10 = \$10,301.60. In other words, approximately \$301.60 of interest is paid.
Data | Description |
---|---|
6% | Annual interest rate |
18 | Number of years of payments |
\$50,000 | Amount of loan |
The following DAX query:
EVALUATE
{
PMT(0.06/12, 18*12, 0, 50000)
}
[Value] |
---|
-129.081160867991 |
Returns the amount to save each month to have \$50,000 at the end of 18 years, using the terms specified above.