Google Sheets Function

PPMT

Returns the payment on the principal for a given period for an investment based on periodic, constant payments and a constant interest rate.

Generate a formula with AI Same function in Excel

This function works the same in Google Sheets as it does in Excel — same syntax and arguments.

Syntax

PPMT(rate, per, nper, pv, [fv], [type])

The PPMT function calculates the principal portion of a loan payment for a specific period. It assumes that the interest rate and payment amounts remain constant throughout the life of the loan.

Arguments

raterequiredThe interest rate per period.
perrequiredThe period for which you want to find the principal payment (must be in the range 1 to nper).
nperrequiredThe total number of payment periods in an investment.
pvrequiredThe present value, or the total amount that a series of future payments is worth now.
fvoptionalThe future value or a cash balance you want to attain after the last payment is made (defaults to 0).
typeoptionalThe number 0 or 1 and indicates when payments are due (0 = end of period, 1 = beginning of period).

Examples

=PPMT(0.05/12, 1, 36, 10000)

Result: -260.44

Calculates the principal portion of the first payment for a $10,000 loan at 5% annual interest over 36 months.

FAQ

Why is the result of PPMT negative?

In Excel financial functions, cash outflows (payments) are represented as negative numbers.

Related functions

IPMT PMT NPER PV