Difference between revisions of "PMT()"

Revision as of 10:14, 23 March 2009

Class

Numeric Data

Purpose

Function to calculate the payment on a loan

Syntax

PMT(<expN1>,<expN2>,<expN3>)

See Also

PAYMENT(), FV(), PV(), CAGR(), LOG10(), PI()

Description

The PMT() function is synonymous with the PAYMENT() 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

? pmt(100,10,1)
    110.00

Products

Recital Database Server, Recital Mirage Server, Recital Terminal Developer