VB.NET Language in a Nutshell, Second Edition

Name

IPmt Function

Class

Microsoft.VisualBasic.Financial

Syntax

IPmt(rate, per, nper, pv[, fv[, due]])

rate (required; Double)

The interest rate per period.

per (required; Double)

The period for which a payment is to be computed.

nper (required; Double)

The total number of payment periods.

pv (required; Double)

The present value of a series of future payments.

fv (optional; Double)

The future value or cash balance after the final payment. If omitted, the default value is 0.

due (optional; DueDate enumeration)

A value indicating when payments are due. DueDate.EndOfPeriod (or 0) indicates that payments are due at the end of the payment period; DueDate. BegOfPeriod (or 1) indicates that payments are due at the beginning of the period. If omitted, the default value is DueDate.EndOfPeriod.

Return Value

A Double representing the interest payment

Description

Computes the interest payment for a given period of an annuity based on periodic, fixed payments and a fixed interest rate. An annuity is a series of fixed cash payments made over a period of time. It can be either a loan payment or an investment.

Rules at a Glance

• The value of per can range from 1 to nper.

• If pv and fv represent liabilities, their value is negative; if they represent assets, their value is positive.

Example

The ComputeSchedule function accepts a loan amount, an annual percentage rate, and a number of payment periods. It uses the Pmt function to calculate the payment per period, then returns a two-dimensional array in which each ...