# PPMT

Returns the payment on the principal for a given period for an investment based on periodic, constant payments and a constant interest rate.

## Syntax

```
PPMT(<rate>, <per>, <nper>, <pv>[, <fv>[, <type>]])
```

### Parameters

Term | Definition |
---|---|

rate | The interest rate for the loan. |

per | Specifies the period. Must be between 1 and nper (inclusive). |

nper | The total number of payment periods in an annuity. |

pv | The present value — the total amount that a series of future payments is worth now. |

fv | (Optional) The future value, or a cash balance you want to attain after the last payment is made. If fv is omitted, it is assumed to be BLANK. |

type | (Optional) The number 0 or 1 which indicates when payments are due. If type is omitted, it is assumed to be 0. The accepted values are listed below this table. |

The **type** parameter accepts the following values:

Set type equal to |
If payments are due |
---|---|

0 or omitted | At the end of the period |

1 | At the beginning of the period |

**Note:** For a more complete description of the arguments in PPMT, see the PV function.

## Return Value

The payment on the principal for a given period.

## Remarks

Make sure that you are consistent about the units you use for specifying rate and nper. If you make monthly payments on a four-year loan at an annual interest rate of 12 percent, use 0.12/12 for rate and 4*12 for nper. If you make annual payments on the same loan, use 0.12 for rate and 4 for nper.

type is rounded to the nearest integer.

An error is returned if:

- per < 1 or per > nper
- nper < 1

This function is not supported for use in DirectQuery mode when used in calculated columns or row-level security (RLS) rules.

## Example 1

Data |
Argument description |
---|---|

10% | Annual interest rate |

2 | Number of years for the loan |

\$2,000.00 | Amount of loan |

The following DAX query:

```
EVALUATE
{
PPMT(0.1/12, 1, 2*12, 2000.00)
}
```

Returns the principal payment made in the first month for a loan with the terms specified above.

[Value] |
---|

-75.6231860083663 |

## Example 2

Data |
Argument description |
---|---|

8% | Annual interest rate |

10 | Number of years for the loan |

\$200,000.00 | Amount of loan |

The following DAX query:

```
EVALUATE
{
PPMT(0.08, 10, 10, 200000.00)
}
```

Returns the principal payment made in the 10th year for a loan with the terms specified above.

[Value] |
---|

-27598.0534624214 |

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