Google Sheets function

PMT in Google Sheets

PMT with worked examples you can test in the live grid. The argument details are in the Excel guide.

In Google Sheets

The arguments and common errors are covered in the PMT Excel guide; check the function help in Google Sheets for its own argument list.

	A	B	C
1	Amount	Annual rate	Months
2	20000	0.06	60

Formula: E2: =ROUND(-PMT(B2/12,C2,A2),2)

Result: 386.66

Monthly rate 0.5% over 60 payments; the leading minus turns the payment positive and ROUND shows cents.

	A	B	C
1	Amount	Annual rate	Years
2	300000	0.065	30

Formula: E2: =ROUND(-PMT(B2/12,C2*12,A2),2)

Result: 1896.2

Years are converted to 360 monthly payments.

	A	B	C
1	Goal	Annual rate	Years
2	50000	0.05	10

Formula: E2: =ROUND(PMT(B2/12,C2*12,0,-A2),2)

Result: 321.99

With pv 0 and fv set to the goal (entered as negative), PMT returns the monthly deposit needed.

A tiny spreadsheet with example data. Edit the formula or any number and see the result.

Formula in D2: =PMT(6%/12,24,-20000)

Result in D2: 886.412205055

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