# 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