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Financial function

PPMT

Returns the principal portion of a specific payment.

CommonDifficulty 1400 · AdvancedUsage rank #171 of 520
Practice · 3 questions →

When to use it

The principal portion of one specific payment.

The shape of it

Syntax
=PPMT(rate, per, nper, pv, [fv], [type])

Worked examples

  • First payment

    =PPMT(0.06/12,1,360,250000) → -248.88

    First month: payment 1,498.88 minus interest 1,250.

  • Last payment

    =PPMT(0.06/12,360,360,250000) → -1,491.42

    The last payment is nearly all principal.

  • Car loan

    =PPMT(0.05/12,1,60,25000) → -367.61

    First month of the car loan.

Worth knowing

  • Amortization schedule: PPMT and IPMT with SEQUENCE(nper) as the period.
  • CUMPRINC sums principal over a range of periods.
  • Balance after k payments: pv + CUMPRINC(...,1,k,0).

Where it goes wrong

  • #NUM! for a period outside 1 to nper.
  • Rate and period units must match.

Related

PMTNPVIRRIPMTPVFV

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