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NPer Function Example
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 (
PayType
).
Dim FVal, PVal, APR, Payment, PayType, TotPmts
Const ENDPERIOD = 0, BEGINPERIOD = 1 ' When payments are made.
FVal = 0 ' Usually 0 for a loan.
PVal = InputBox("How much do you want to borrow?")
APR = InputBox("What is the annual percentage rate of your loan?")
If APR > 1 Then APR = APR / 100 ' Ensure proper form.
Payment = InputBox("How much do you want to pay each month?")
PayType = MsgBox("Do you make payments at the end of month?", vbYesNo)
If PayType = vbNo Then PayType = BEGINPERIOD Else PayType = ENDPERIOD
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."