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The PPMT function calculates the principal payment of a given period for an investment or loan based on periodic, constant payments and a constant interest rate.

=PPMT(rate, per, nper, pv, [fv], [type])

Rate (required): This is the interest rate per period.

Per (required): The period for which you want to find the principal and must be in the range 1 to nper.

Nper (required): The total number of payment periods in the annuity.

Pv (required): The present value is the amount the amount that the sum of the future payments is worth today.

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.

Type (optional): The number 0 (zero) or 1 and indicates when payments are due. 0 (zero) for when "at the end of the period" and 1 (one) for "at the beginning of the period".