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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)
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 SubSee Also
FV Function
IPmt Function
IRR Function
NPV Function
PPmt Function
PV Function
Rate Function
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Siebel VB Language Reference Published: 18 June 2003 |