# PMT

Returns the payment (PMT) required by the term, interest rate, and principal.

`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 months.

## Data type returned

number

## Originated in

FileMaker Pro 6.0 or earlier

## Description

Use this function to calculate `PMT`

.

## Example 1

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 **$501.90**.

## Example 2

`PMT(Cost;.13;Years)`

returns a payment amount, based on the purchase value stored in Cost, at a 13 percent rate, over the duration stored in Years.

## Example 3

`"Your payment will be " & PMT (150000 ; .13/12 ; Months ) & "."`

returns **Your 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.

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