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
(Optional) When payments are due:
Payment = payper(Rate,NumPeriods,PresentValue,FutureValue,Due) returns
the periodic payment of a loan or annuity.
This example shows how to 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)
Payment = 297.8553