FinancePMT calculation help

Question

Im calculating monthly payments using the Finance PMT calculation and Im not sure what the convention for the "PayAtPeriodBegin" argument is. Is it a 1 for at beginning of period and 0 for at end?

FinancePMT(Rate, NumPayments, PresentValue, FutureValue, PayAtPeriodBegin)

Thanks

MarqueeCrew · Accepted Answer

@paul_houghton,

That is what the formula reads from microsoft.  The difference there is that the default value is due at end of period.  If you test in comparison with their function, you should get the same results.  I tested using:

http://www.calculator.net/finance-calculator.html?ctype=contributeamount&ctargetamountv=1000000&cyearsv=10&cstartingprinciplev=20000&cinterestratev=6&ccontributeamountv=1000&ciadditionat1=beginning&printit=0&x=73&y=6

I got same/similar results.

1 = Beginning & 0 = End

Cheers,

Mark