- pmt(rate, nper, pv, fv?, when?): number
#### Parameters

- 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

#### Since

v0.0.12

## Examples

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) // -1854.0247200054619In 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.## Notes

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.## References

- rate: number

Generated using TypeDoc

Compute the payment against loan principal plus interest.