Pmt Function

Pmt Function

Microsoft.VisualBasic.Financial

 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 the series of future payments.
fv (optional; Double): The future value or cash balance after the final payment.
due (optional; 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.

A Double representing the monthly payment

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.

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.

See the example for the IPmt Function entry.

rate and nper must be calculated using payment periods expressed in the same units. For example, if nper reflects the total number of monthly payments, rate must be the monthly interest rate.