Difference between revisions of "PAYMENT()"
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Revision as of 15:41, 28 October 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 Database Server, Recital Mirage Server, Recital Terminal Developer
