Functions Reference

Table Of Contents
Financial functions
F
ILEMAKER PRO FUNCTIONS REFERENCE 91
PMT
Purpose
Returns the payment (PMT) required by the term, interest rate, and principal.
Format
PMT(principal;interestRate;term)
Parameters
principal - principal amount.
interestRate - interest rate. If the interest
rate is annual, divide the rate by 12.
term - length of time, expressed in number of mont
hs.
Data type returned
number
Originated in
FileMaker Pro 6.0 or earlier
Description
Use this function to calculate PMT.
PMT payment
1 1 interestRate+()
periods
interestRate
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Examples
In the following example, the PMT function calculates payments for purchasing a sports car costing
$21,000, at an annual rate of 6.9% over 48 monthly payments.
PMT(21000;.069/12;48) returns the payment amount $50
1.90.
PMT(Cost;.13;Years) returns a payment amount, based on the purchase value stored in C
ost,
at a 13 percent rate, over the duration stored in Years.
“Your payment will be ” & PMT(150000;.13/12;Months) & “.” returns Y
our payment
will be, followed by the payment amount, based on a total cost of $150,000, at a 13 percent annual
percentage rate, over the duration stored in Months.