PMT, one of the financial functions, calculates the payment for a loan based on constant payments and a constant interest rate.

Syntax:

The PMT function syntax has the following arguments:

Syntax:

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

The PMT function syntax has the following arguments:

- Rate:- Required. The interest rate for the loan.
- Nper:- Required. The total number of payments for the loan.
- Pv:- Required. The present value, or the total amount that a series of future payments is worth now; also known as the principal.
- 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 0 (zero), that is, the future value of a loan is 0.
- Type:- Optional. The number 0 (zero) or 1 and indicates when payments are due.

This can be represented in Java function as:

A high precision implementation using BigDecimal values is given as:

Source code can be found at: ExcelFunctions.java

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