0 or omitted - payments are made at the end of each period.Type (optional) - specifies when the payments are due:.If omitted, it is implied to be zero (0). the desired balance after the last payment is made. Fv (optional) - the future value, i.e.In other words, it is the loan principal, i.e. Pv (required) - the present value of the loan or investment.Nper (required) - the total number of payments during the lifetime of the loan.It must be an integer in the range from 1 to nper. Per (required) - the period for which you want to calculate the interest.Say, if you make quarterly payments on a loan with an annual interest rate of 6 percent, use 6%/4 for rate. If you make weekly, monthly, or quarterly payments, divide the annual rate by the number of payment periods per year, as shown in this example. You can supply it as a percentage or decimal number.įor example, if you make annual payments on a loan with an annual interest rate of 6 percent, use 6% or 0.06 for rate. Rate (required) - the constant interest rate per period.
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