payadv (Financial Toolbox)

Periodic payment given number of advance payments

Syntax

Payment = payadv(Rate, NumPeriods, PresentValue, FutureValue, 
Advance)

Arguments

Rate
Lending or borrowing rate per period. Enter as a decimal fraction. Must be greater than or equal to 0.

NumPeriods
Number of periods in the life of the instrument.

PresentValue
Present value of the instrument.

FutureValue
Future value or target value to be attained after NumPeriods periods.

Advance
Number of advance payments. If the payments are made at the beginning of the period, add 1 to Advance.

`Rate`	Lending or borrowing rate per period. Enter as a decimal fraction. Must be greater than or equal to 0.
`NumPeriods`	Number of periods in the life of the instrument.
`PresentValue`	Present value of the instrument.
`FutureValue`	Future value or target value to be attained after `NumPeriods` periods.
`Advance`	Number of advance payments. If the payments are made at the beginning of the period, add 1 to `Advance`.

Description

Payment = payadv(Rate, NumPeriods, PresentValue, FutureValue, Advance) returns the periodic payment given a number of advance payments.

Examples

The present value of a loan is $1000.00 and it will be paid in full in 12 months. The annual interest rate is 10% and three payments are made at closing time. Using this data

Payment = payadv(0.1/12, 12, 1000, 0, 3)

returns

```
Payment =

          85.94
```

for the periodic payment.

See Also

amortize, payodd, payper

opprofit payodd