Function pmt

  • Compute the payment against loan principal plus interest.


    • rate: number

      Rate of interest (per period)

    • nper: number

      Number of compounding periods (e.g., number of payments)

    • pv: number

      Present value (e.g., an amount borrowed)

    • fv: number = 0

      Future value (e.g., 0)

    • when: PaymentDueTime = PaymentDueTime.End

      When payments are due

    Returns number

    the (fixed) periodic payment




    What is the monthly payment needed to pay off a $200,000 loan in 15 years at an annual interest rate of 7.5%?

    import { pmt } from 'financial'

    pmt(0.075/12, 12*15, 200000) // -1854.0247200054619

    In order to pay-off (i.e., have a future-value of 0) the $200,000 obtained today, a monthly payment of $1,854.02 would be required. Note that this example illustrates usage of fv having a default value of 0.


    The payment is computed by solving the equation:

    fv + pv * (1 + rate) ** nper + pmt * (1 + rate*when) / rate * ((1 + rate) ** nper - 1) == 0

    or, when rate == 0:

    fv + pv + pmt * nper == 0

    for pmt.

    Note that computing a monthly mortgage payment is only one use for this function. For example, pmt returns the periodic deposit one must make to achieve a specified future balance given an initial deposit, a fixed, periodically compounded interest rate, and the total number of periods.


    Wheeler, D. A., E. Rathke, and R. Weir (Eds.) (2009, May).

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