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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; `DueDate` enumeration)

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

• `rate` is a percentage expressed as a decimal. For example, an interest rate of 1% per month is expressed as 0.01.

• If `fv` is omitted, the default value of 0 (reflecting the complete repayment of a loan) is used.

• For `pv` and `fv`, cash paid out is represented by negative numbers; cash received is represented by positive numbers.

• If `due` is 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

• `rate` and `nper` must be calculated using payment periods expressed in the same units. For example, if `nper` reflects the total number ...

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