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Sorry, this may have already been answered in the 40k+ posts...but I'll ask anyhow. I'm really new to VB and trying to work thru some tutorials in a book I have, unfortunately I don't have the MSDN library <which it is asking me to use> I need some info regarding the PMT Function, what is it? How is it used? I'm sorry I dont quite have a handle on this as of yet. Please anyone help me out?
Tks in advance.
T
You can find the whole MSDN library online, which is updated everytime a new CD is released from them...
http://msdn.microsoft.com/
goto their documentation section, you'll find the whole MSDN library online there...
Returns the payment for an annuity based on periodic, constant payments and a constant interest rate.
Syntax
Pmt(rate, nper, pv[, fv[, type]])
The Pmt function has these named arguments:
Part Description
rate Interest rate per period. For example, if you get a car loan at an annual percentage rate (APR) of 10 percent and make monthly payments, the rate per period is 0.1/12, or 0.0083.
nper Total number of payment periods in the annuity. For example, if you make monthly payments on a four-year car loan, your loan has a total of 4 * 12 (or 48) payment periods.
pv Present value (or lump sum) that a series of payments to be paid in the future is worth now. For example, when you borrow money to buy a car, the loan amount is the present value to the lender of the monthly car payments you will make.
fv Future value or cash balance you want after you've made the final payment. For example, the future value of a loan is $0 because that's it value after the final payment. However, if you want to save $50,000 for your child's education over 18 years, then $50,000 is the future value. If omitted, 0 is assumed.
type Number indicating when payments are due. Use 0 if payments are due at the end of the payment period, or use 1 if payments are due at the beginning of the period. If omitted, 0 is assumed.
Remarks
An annuity is a series of constant cash payments made over a period of time. An annuity can be a loan (such as a home mortgage) or an investment (such as a monthly savings plan).
The arguments rate and nper must be calculated using payment periods expressed in the same units. For example, if rate is calculated using months, nper must also be calculated using months.
For all arguments, cash paid out (such as deposits to savings) is represented by negative numbers; cash received (such as dividend checks) is represented by positive numbers.
Many thanks to those above ;)
<went brain dead for a while forgot to calculate X% to 0.0X>
T