Difference between revisions of "PAYMENT()"

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==Class==
 
Numeric Data
 
 
 
 
==Purpose==
 
==Purpose==
 
Function to calculate the payment on a loan
 
Function to calculate the payment on a loan
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==Products==
 
==Products==
Recital Database Server, Recital Mirage Server, Recital Terminal Developer
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Recital, Recital Server
 
[[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