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Siebel VB Language Reference > VB Language Reference >
Pmt Function
This standard VB function returns a constant periodic payment amount for an annuity or a loan. Syntax
Pmt(rate, nper, pv, fv, due)
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rate |
The interest rate per period |
nper |
The total number of payment periods |
pv |
The present value of the initial lump sum amount paid (as with an annuity) or received (as with a loan) |
fv |
The future value of the final lump sum amount required (as with a savings plan) or paid (0 as with a loan) |
due |
0 if due at the end of each period 1 if due at the beginning of each period |
Returns
The constant periodic payment amount. Usage
Rate is assumed to be constant over the life of the loan or annuity. If payments are on a monthly schedule, then rate is 0.0075 if the annual percentage rate on the annuity or loan is 9%. Example
This example finds the monthly payment on a given loan. Sub Button_Click
Dim aprate, totalpay
Dim loanpv, loanfv
Dim due, monthlypay
Dim yearlypay, msgtext
loanpv = 25000
aprate = 7.25
If aprate >1 then
aprate = aprate/100
End If
totalpay = 60
loanfv = 0
'Assume payments are made at end of month
due = 0
monthlypay = Pmt(aprate/12,totalpay,-loanpv,loanfv,due)
msgtext = "The monthly payment is: " Format(monthlypay, "Currency")
End Sub
See Also
FV Function
IPmt Function
IRR Function
NPV Function
PPmt Function
PV Function
Rate Function
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