All versions
Financial
The Excel PPMT function returns the principal portion of a specific loan payment.
Quick answer:
=PPMT(6%/12, 1, 5*12, 25000) // principal in month 1
Syntax
=PPMT(rate, per, nper, pv, [fv], [type])
| Argument | Description | |
|---|---|---|
rate | Required | Rate per period. |
per | Required | The period to find principal for. |
nper | Required | Total periods. |
pv | Required | Present value. |
fv | Optional | Default 0. |
type | Optional | 0 end, 1 start. |
How to use it
PPMT returns the principal portion of a specific loan payment.
=PPMT(6%/12, 1, 5*12, 25000) // principal in payment 1
Try it: interactive demo
Live demo
This is the formula pattern PPMT uses — copy it into Excel with your own numbers.
Result: computed in Excel
Practice workbook
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Frequently asked questions
PPMT vs IPMT?
PPMT is the principal repaid in a payment; IPMT is the interest. PPMT + IPMT = PMT.
Why does principal grow each period?
Interest falls as the balance drops, so a larger slice of each fixed payment goes to principal.
Which Excel versions support it?
All modern versions.
Why might it return #NUM! or #VALUE!?
Out-of-range arguments (e.g. negative rate or settlement after maturity) give #NUM!; non-numeric inputs give #VALUE!.
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