Pmt Function

Pmt Function

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Class

Microsoft.VisualBasic.Financial

Syntax

     Dim result As Double = Pmt(rate, nPer, pv[, fv[, due]]) 

rate (required; Double)

The interest rate per period.

nPer (required; Double)

The total number of payment periods.

pv (required; Double)

The present value of a series of future payments.

fv (optional; Double)

The future value or cash balance after the final payment. If omitted, the default value is 0.

due (optional; DueDate enumeration)

A value indicating when payments are due, from the Microsoft.VisualBasic.DueDate enumeration. DueDate.EndOfPeriod indicates that payments are due at the end of the payment period; DueDate.BegOfPeriod indicates that payments are due at the beginning of the period. If omitted, the default value is DueDate.EndOfPeriod.

Description

The Pmt function calculates the periodic payment for an annuity, based on regular fixed payments and a fixed interest rate. An annuity is a series of fixed cash payments made over a period of time. It can be either a loan or an investment.

Usage at a Glance

• If pv and fv represent liabilities, their value is negative; if they represent assets, their value is positive.

• rate and nPer must be expressed in the same time unit. That is, if nPer reflects the number of monthly payments, rate must be the monthly interest rate.

• The rate is supplied as a decimal percent. For example, 10% is stated as 0.1.

Example

See the example for the IPmt Function entry, which employs a similar syntax.

See Also

FV Function, IPmt Function, NPer Function, NPV Function, PPmt Function, PV Function, Rate Function