What is the best way to get some code to run at timed intervals?

I have used the following code.

Application.OnTime Now + TimeValue("00:05:00"), _ "time_set",
TimeValue("22:00:00")

This should run every 5 minutes until 22:00 Hours.

I have also tried:-

Application.OnTime Now + TimeValue("00:05:00"), "time_set", ,False

I get debugging errors with both.

Would a Do_Loop be better?

TIA