Payback Period Calculator

Currently people seem to face a lot of difficulties to secure a loan or have problem to pay back a loan. The sub prime loan issues seem to hit everyone hard. Still, we need to borrow money every now and then to acquire an asset or to pay for education fees. So, naturally we need to find out how long we can settle a loan for a certain amount of monthly payment at a certain interest rate. It is not easy to calculate such figure, fortunately VB comes to the rescue. There is built-in function in VB to calculate the payback period is Nper and the syntax is

Nper(Rate,Pmt,Pv,Fv,Due)

Rate=Interest Rate

Pmt=Amount of Periodic Payment

PV=Loan taken

FV=Future Value (set to 0 if load is settled)

Due=set to 1 if payment at the beginning of the period

set to 0 if payment at the end of the period

The Interface

The Code:

Private Sub Command1_Click()
Dim payment, Loan, Int_Rate As Double
Dim Num_year As Single

payment = Val(Txt_Payment.Text)

Int_Rate = (Val(Txt_Rate.Text) / 100) / 12
Loan = Val(Txt_PV.Text)

Num_year = NPer(Int_Rate, payment, -Loan, 0, 0) / 12

Lbl_Period.Caption = Str(Int(Num_year))
End Sub

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