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PPmt Function
This standard VB function returns the principal portion of the payment for a given period of an annuity. Syntax
PPmt(rate, per, nper, pv, fv, due)
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rate |
The interest rate per period |
per |
The payment period, in the range from 1 to nper |
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 principal portion of the payment for a given period. 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 principal portion of a loan payment amount for payments made in the last month of the first year. The loan is for $25,000 to be paid back over 5 years at 9.5% interest. Sub Button_Click Dim aprate, periods Dim payperiod Dim loanpv, due Dim loanfv, principal Dim msgtext aprate = 9.5/100 payperiod = 12 periods = 120 loanpv = 25000 loanfv = 0 ' Assume payments are made at end of month due = 0 principal = PPmt(aprate/12,payperiod,periods, _ -loanpv,loanfv,due) msgtext = "Given a loan of $25,000 @ 9.5% for 10 years," msgtext = msgtext & Chr(10) & "the principal paid in month 12 is: " End Sub
See Also
FV Function IPmt Function IRR Function NPV Function PPmt Function PV Function Rate Function
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