April 2002
Intermediate to advanced
688 pages
19h 51m
English
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Name
Pmt Function
Class
Microsoft.VisualBasic.Financial
Syntax
Pmt(rate,nper,pv[,fv[,due]])
-
rate(required; Double) The interest rate per period.
-
nper(required; Double) The total number of payment periods.
-
pv(required; Double) The present value of the series of future payments.
-
fv(optional; Double) The future value or cash balance after the final payment.
-
due(optional;DueDateenumeration) A value indicating when payments are due.
EndOfPeriod(0) indicates that payments are due at the end of the payment period;BegOfPeriod(1) indicates that payments are due at the beginning of the period. If omitted, the default value is 0.
Return Value
A Double representing the monthly payment
Description
Calculates the payment for an annuity based on periodic, fixed payments and a fixed interest rate. An annuity can be either a loan or an investment.
Rules at a Glance
rateis a percentage expressed as a decimal. For example, an interest rate of 1% per month is expressed as 0.01.If
fvis omitted, the default value of 0 (reflecting the complete repayment of a loan) is used.For
pvandfv, cash paid out is represented by negative numbers; cash received is represented by positive numbers.If
dueis omitted, the default value of 0 (reflecting payments at the beginning of each period) is used.
Example
See the example for the IPmt Function entry.
Programming Tips and Gotchas
rateandnpermust be calculated using payment periods expressed in the same units. For example, ifnperreflects the total number ...
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