Name

Pmt Function

Class

Microsoft.VisualBasic.Financial

Syntax

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

Use: Required

Data Type: Double

The interest rate per period.

nper

Use: Required

Data Type: Double

The total number of payment periods.

pv

Use: Required

Data Type: Double

The present value of the series of future payments.

fv

Use: Optional

Data Type: Double

The future value or cash balance after the final payment.

due

Use: Optional

Data Type: DueDate enumeration

A value indicating when payments are due. EndOfPeriod (0) indicates that payments are due at the end of the payment period; BegOfPeriod (1) indicates that payments are due at the beginning of the period. If omitted, the default value is 0.

Return Value

A Double representing the monthly payment

Description

Calculates the payment for an annuity based on periodic, fixed payments and a fixed interest rate. An annuity can be either a loan or an investment.

Rules at a Glance

  • rate is a percentage expressed as a decimal. For example, an interest rate of 1% per month is expressed as 0.01.

  • If fv is omitted, the default value of 0 (reflecting the complete repayment of a loan) is used.

  • For pv and fv, cash paid out is represented by negative numbers; cash received is represented by positive numbers.

  • If due is omitted, the default value of 0 (reflecting payments at the beginning of each period) is used.

Example

See the example for the IPmt Function entry.

Programming Tips and Gotchas

  • rate and nper must be calculated using payment periods expressed in the ...

Get VB .NET Language in a Nutshell now with the O’Reilly learning platform.

O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.

Start your free trial