Difference between revisions of "PAYMENT()"
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==Purpose== | ==Purpose== | ||
Function to calculate the payment on a loan | Function to calculate the payment on a loan | ||
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[[Category:Documentation]] | [[Category:Documentation]] | ||
[[Category:Functions]] | [[Category:Functions]] | ||
[[Category:Numeric Data]] | [[Category:Numeric Data]] | ||
[[Category:Numeric Data Functions]] | [[Category:Numeric Data Functions]] | ||
Latest revision as of 17:37, 3 December 2009
Purpose
Function to calculate the payment on a loan
Syntax
PAYMENT(<expN1>,<expN2>,<expN3>)
See Also
CAGR(), FV(), LOG10(), PI(), PMT(), PV()
Description
The PAYMENT() function is synonymous with the PMT() function. It calculates the payment on a loan where <expN1> is the principal amount of the loan, <expN2> is the periodic interest rate and <expN3> is the number of payment periods of the loan. Interest rates must be converted to fractions of one (e.g. 25% = .25).
Example
? payment(100,10,1) 110.00
Products
Recital, Recital Server
