Difference between revisions of "Payment Command"

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*<b><Type (optional)></b> Indicates when payments are due. If you do not enter a value or you enter 0 the payment is due at the end of the period and if you enter 1 at the beginning.  
 
*<b><Type (optional)></b> Indicates when payments are due. If you do not enter a value or you enter 0 the payment is due at the end of the period and if you enter 1 at the beginning.  
  
:{{example| 1=<div><code><nowiki>Payment[6%/12, 10, 10000, 0,1]</nowiki></code> yields a monthly payment for a loan of -1022.59. </div> {{note|1=Make sure that you are consistent about the units you use for <code><nowiki><Rate></nowiki></code> and <code><nowiki><Number of Periods></nowiki></code>. If you make monthly payments on a four-year loan at an annual interest rate of 12 percent, use 12%/12 for rate and 4*12 for number of payments.}}}}
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:{{example| 1=<div><code><nowiki>Payment[6%/12, 10, 10000, 0,1]</nowiki></code> yields a monthly payment for a loan of -1022.59. </div> {{note|1=Make sure that you are consistent about the units you use for <code><nowiki><Rate></nowiki></code> and <code><nowiki><Number of Periods></nowiki></code>. If you make monthly payments on a four-year loan at an annual interest rate of 6 percent, use 6%/12 for rate and 4*12 for number of payments.}}}}
 
{{note|1= For all arguments, cash paid out is represented by negative numbers and cash received  by positive numbers.}}
 
{{note|1= For all arguments, cash paid out is represented by negative numbers and cash received  by positive numbers.}}
 
{{note| 1=See also [[Rate Command|Rate]], [[Periods Command|Periods]], [[PresentValue Command|Present Value]] and [[FutureValue Command|Future Value]] commands.}}
 
{{note| 1=See also [[Rate Command|Rate]], [[Periods Command|Periods]], [[PresentValue Command|Present Value]] and [[FutureValue Command|Future Value]] commands.}}

Revision as of 10:19, 13 August 2014



Payment[ <Rate>, <Number of Periods>, <Present Value>, <Future Value (optional)>, <Type (optional)> ]
Calculates the payment for a loan based on constant payments and a constant interest rate.
  • <Rate> Interest rate per period.
  • <Number of Periods> Total number of payments for the loan.
  • <Present Value> Total amount that a series of future payments is worth now.
  • <Future Value (optional)> A cash balance you want to attain after the last payment. If you do not enter a future value, it is assumed to be 0.
  • <Type (optional)> Indicates when payments are due. If you do not enter a value or you enter 0 the payment is due at the end of the period and if you enter 1 at the beginning.
Example:
Payment[6%/12, 10, 10000, 0,1] yields a monthly payment for a loan of -1022.59.
Note: Make sure that you are consistent about the units you use for <Rate> and <Number of Periods>. If you make monthly payments on a four-year loan at an annual interest rate of 6 percent, use 6%/12 for rate and 4*12 for number of payments.
Note: For all arguments, cash paid out is represented by negative numbers and cash received by positive numbers.
Note: See also Rate, Periods, Present Value and Future Value commands.
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