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VB.NET Language in a Nutshell, Second Edition by Steven Roman PhD, Paul Lomax, Ron Petrusha

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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; 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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