FINANCE PPMT Function
Computes the payment on the principal for an investment for a specified period.
| Category: | Financial |
|---|---|
| Returned data type: | DOUBLE |
Table of Contents
Syntax
Required Arguments
rate
specifies the interest rate.
| Requirement | Rate is provided as a numeric value and not as a percentage. |
|---|---|
| Data type | DOUBLE |
period
specifies the period.
Range: 1–nper
| Data type | DOUBLE |
|---|
nper
specifies the number of payment periods.
| Data type | DOUBLE |
|---|
pv
specifies the present value or the lump-sum amount that a series of future payments is worth currently. If pv is omitted, it is assumed to be 0 (zero), and you must include the fv argument.
| Data type | DOUBLE |
|---|
Optional Arguments
fv
specifies the future value or a cash balance that you want to attain after the last payment is made. If fv is omitted, it is assumed to be 0 (for example, the future value of a loan is 0).
| Data type | DOUBLE |
|---|
type
specifies the number 0 or 1 and indicates when payments are due. If type is omitted, it is assumed to be 0.
If payments are due at the end of the period, then either omit the type argument or set it to 0. If payments are due at the beginning of the period, then set type to 1.
| Data type | DOUBLE |
|---|
Example: Computing Description: PPMT
The following program computes the payment on the principal for an investment for a specified period.
proc ds2;
data test(overwrite=yes);
dcl double rate period nper pv fv type r;
method init();
rate=0.08;
period=10;
nper=10;
pv=200000;
fv=0;
type=0;
r=finance('ppmt', rate, period, nper, pv, fv, type);
put r=;
end;
enddata;
run;
quit;SAS writes the following output to the log:
r=-27598.0534624213