PAYMT
PAYMT returns the payment amount of an annuity based on a given initial value or principal, an interest rate, and a number of periods. An annuity is a series of payments made at equal intervals of time.
This function is valid in both rules and TurboIntegrator processes.
Syntax
PAYMT(principal, interest, periods)|
Argument |
Description |
|---|---|
|
principal |
The present value, or the total amount that a series of future payments is worth now. |
|
interest |
The interest rate paid per period. |
|
periods |
The number of periods in the annuity. Payments are assumed to be made at the end of each period. |
Example
This example returns the payment on a 5-year annuity that is paid yearly, with a principal of $100,000 at 14% interest.
PAYMT(100000, .14, 5)