[Glossary](https://useratio.app/glossary) › Money and tax

# Loan payment (PMT)

The fixed amount you pay each period to repay a loan with interest.

For a mortgage or car loan, the payment depends on the amount, the interest rate per period and the number of periods. Spreadsheets call the function PMT.

Ratio has a plain-words form and the spreadsheet form. Both give the same payment. In pmt, the rate is per period, so a yearly 5% paid monthly is 5%/12.

## In Ratio

| You type | Ratio shows |
| --- | --- |
| `loan 200k at 5% for 30 years` | 1,073.6432 |
| `pmt(5%/12, 360, 200000)` | 1,073.6432 |

## Related

[Loan calculator](https://useratio.app/loan-calculator) · [Compound interest](https://useratio.app/glossary/compound-interest) · [All terms](https://useratio.app/glossary)

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Source: https://useratio.app/glossary/loan-payment