Financial Formulas in JQuery Calculate widget

9 Aug 20171 minute to read

PMT

The PMT function calculates the payment for a loan based on constant payments and constant interest rate.

Syntax:

PMT(rate, nper, pv, [fv], [type])

Where:

  • rate is the interest rate for the loan.

  • nper is the total number of payments for the loan.

  • pv is the present value, or the total amount that a series of future payments is worth now.

  • fv is 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 zero.

  • type is the number 0 or 1 and indicates when payments are due.

    Set type equal to If payments are due
    0 or omitted At the end of the period
    1 At the beginning of the period.

PV

Calculates the present value of an investment (i.e. the total amount that a series of future payments is worth now).

Syntax:

PV(rate, nper, pmt, [fv], [type])

where:

  • rate is the interest rate per period.

  • nper is the total number of payment periods in an annuity.

  • pmt is the payment made each period and cannot change over the life of the annuity.

  • fv is the future value, or a cash balance you want to attain after the last payment is made.

  • type is the number 0 or 1 and indicates when payments are due.