Returns a Double specifying the number of periods for an annuity based on periodic, fixed payments and a fixed interest rate.
Function NPer( _ ByVal Rate As Double, _ ByVal Pmt As Double, _ ByVal PV As Double, _ Optional ByVal FV As Double = 0, _ Optional ByVal Due As DueDate = DueDate.EndOfPeriod _ ) As Double
- Required. Double specifying 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.
- Required. Double specifying payment to be made each period. Payments usually contain principal and interest that doesn't change over the life of the annuity.
- Required. Double specifying present value, or value today, of a series of future payments or receipts. 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.
- Optional. Double specifying 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 its value after the final payment. However, if you want to save $50,000 over 18 years for your child's education, then $50,000 is the future value. If omitted, 0 is assumed.
- Optional. Object of type
Microsoft.VisualBasic.DueDatethat specifies when payments are due. This argument must be either
DueDate.EndOfPeriodif payments are due at the end of the payment period, or
DueDate.BegOfPeriodif payments are due at the beginning of the period. If omitted,
|Exception type||Error number||Condition|
|ArgumentException||5||Rate <= -1.|
|ArgumentException||5||Rate = 0 and Pmt = 0|
An annuity is a series of fixed 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).
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.
This example uses the NPer function to return the number of periods during which payments must be made to pay off a loan whose value is contained in
PVal. Also provided are the interest percentage rate per period (
APR / 12), the payment (
Payment), the future value of the loan (
FVal), and a number that indicates whether the payment is due at the beginning or end of the payment period (
Sub TestNPer() Dim FVal, TotPmts As Double Dim PVal, APR, Payment As Double Dim PayType As DueDate Dim Response As MsgBoxResult FVal = 0 ' Usually 0 for a loan. PVal = CDbl(InputBox("How much do you want to borrow?")) APR = CDbl(InputBox("What is the annual percentage rate of your loan?")) If APR > 1 Then APR = APR / 100 ' Ensure proper form. Payment = CDbl(InputBox("How much do you want to pay each month?")) Response = MsgBox("Do you make payments at the end of month?", MsgBoxStyle.YesNo) If Response = MsgBoxResult.No Then PayType = DueDate.BegOfPeriod Else PayType = DueDate.EndOfPeriod End If TotPmts = NPer(APR / 12, -Payment, PVal, FVal, PayType) If Int(TotPmts) <> TotPmts Then TotPmts = Int(TotPmts) + 1 MsgBox("It will take you " & TotPmts & " months to pay off your loan.") End Sub
Assembly: Microsoft Visual Basic .NET Runtime (in Microsoft.VisualBasic.dll)
DDB Function | FV Function | IPmt Function | IRR Function | MIRR Function | NPV Function | Pmt Function | PPmt Function | PV Function | Rate Function | SLN Function | SYD Function | ArgumentException Class