payper (Financial Toolbox)

Periodic payment of loan or annuity

Syntax

Payment = payper(Rate, NumPeriods, PresentValue, FutureValue, Due)

Arguments

Rate
Interest rate per period. Enter as a decimal fraction.

NumPeriods
Number of payment periods in the life of the instrument.

PresentValue
Present value of the instrument.

FutureValue
(Optional) Future value or target value to be attained after NumPeriods periods. Default = 0.

Due
(Optional) When payments are due: 0 = end of period (default), or 1 = beginning of period.

`Rate`	Interest rate per period. Enter as a decimal fraction.
`NumPeriods`	Number of payment periods in the life of the instrument.
`PresentValue`	Present value of the instrument.
`FutureValue`	(Optional) Future value or target value to be attained after `NumPeriods` periods. Default = 0.
`Due`	(Optional) When payments are due: 0 = end of period (default), or 1 = beginning of period.

Description

Payment = payper(Rate, NumPeriods, PresentValue, FutureValue, Due) returns the periodic payment of a loan or annuity.

Examples

Find the monthly payment for a three-year loan of $9000 with an annual interest rate of 11.75%

Payment = payper(0.1175/12, 36, 9000, 0, 0)

returns

```
Payment =

         297.86
```

See Also

amortize, fvfix, payadv, payodd, pvfix

payodd payuni