Could someone give me a web page address were I can find a code on VBA regarding Loan Amortization Calculation. If you already have a code please post. Thank you.
VBA contains several financial functions. FV is the one I use most. It returns the future value of a loan based on the information given.
FV(rate,nper,pmt,pv,type)
Rate is the interest rate per period.
Nper is the total number of payment periods in an annuity.
Pmt is the payment made each period; it cannot change over the life of the annuity. Typically, pmt contains principal and interest but no other fees or taxes.
Pv is the present value, or the lump-sum amount that a series of future payments is worth right now. If pv is omitted, it is assumed to be 0 (zero).
Type is the number 0 or 1 and indicates when payments are due. If type is omitted, it is assumed to be 0.
PMT will figure the monthly payment on a loan given the requested information.
PMT(rate,nper,pv,fv,type)
Rate is the interest rate for the loan.
Nper is the total number of payments for the loan.
Pv is the present value, or the total amount that a series of future payments is worth now; also known as the principal.
Fv is the future value, or a cash balance you want to attain after the last payment is made. If fv is omitted, it is assumed to be 0 (zero), that is, the future value of a loan is 0.
Type is the number 0 (zero) or 1 and indicates when payments are due.
There is also PV, IPMT, NPER, PPMT, RATE, and several others. The documentation for them can be found in vb help, or Excel help, and I'm sure it's in the other Office help files too.
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gimaAuthor Commented:
Can you be a more specific. I need to get a vba code for amortization of a loan. Thank you.
For example:
Const AnnualPayments = 52 'Weekly
Const TotalPeriods = AnnualPayments * 5 'Number of Years Here
'TotalPeriods = AnnualPayments * ? (Years) assumes all loans will be in Years only, Just set TotalPeriods for any fraction of year(s).
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gimaAuthor Commented:
Thank you.
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FV(rate,nper,pmt,pv,type)
Rate is the interest rate per period.
Nper is the total number of payment periods in an annuity.
Pmt is the payment made each period; it cannot change over the life of the annuity. Typically, pmt contains principal and interest but no other fees or taxes.
Pv is the present value, or the lump-sum amount that a series of future payments is worth right now. If pv is omitted, it is assumed to be 0 (zero).
Type is the number 0 or 1 and indicates when payments are due. If type is omitted, it is assumed to be 0.
PMT will figure the monthly payment on a loan given the requested information.
PMT(rate,nper,pv,fv,type)
Rate is the interest rate for the loan.
Nper is the total number of payments for the loan.
Pv is the present value, or the total amount that a series of future payments is worth now; also known as the principal.
Fv is the future value, or a cash balance you want to attain after the last payment is made. If fv is omitted, it is assumed to be 0 (zero), that is, the future value of a loan is 0.
Type is the number 0 (zero) or 1 and indicates when payments are due.
There is also PV, IPMT, NPER, PPMT, RATE, and several others. The documentation for them can be found in vb help, or Excel help, and I'm sure it's in the other Office help files too.