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payadv

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.

Description

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

Examples

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This example shows how to compute the periodic payment, given a number of advance payments. For example, 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.

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

   85.9389

Related Examples

See Also

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Introduced before R2006a

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