Payment Function:Pmt (interest, term, principal, future value, type) : Excel Buildin Function « Excel « VBA / Excel / Access / Word

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VBA / Excel / Access / Word » Excel » Excel Buildin Function

Payment Function:Pmt (interest, term, principal, future value, type)


 

Sub loanPayment()

   Dim dblRate As Double

   Dim intTerm As Integer

   Dim dblPrincipal As Double

   Dim dblPayment As Double



   dblRate = 0.075

   intTerm = 5

   dblPrincipal = 7000



   dblPayment = Pmt(dblRate / 12, intTerm * 12, -dblPrincipal)



   msgBox "The monthly payment is: " & dblPayment



End Sub

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