PAYMENT()

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