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