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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)


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
