Calculate Payment Method

The Calculate Payment method calculates, and then returns a constant periodic payment amount for an annuity or a loan.

Format

Pmt(rate, nper, pv, fv, due)

For more information, see Arguments You Can Use with Financial Methods.

Example

The following example calculates the monthly payment for 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