Payment function

Declaration

function Payment(ARate: Float; NPeriods: Integer; APresentValue: Float; 
 AFutureValue: Float; APaymentTime: TPaymentTime): Float

Description

Payment calculates the amount that must be payed ( PMT) during number of periods ( n) needed to obtain future value of an investment in the cash flow formula (see CashFlowFunctions). The function result is the amount ( PMT) that must be paid in order to obtain a future value AFutureValue for an investment of a start value APresentValue ( PV), where the amount must be payed NPeriods ( PMT) and the interest rate is ARate ( q).

The APaymentTime parameter determines whether the investment (payment) is an ordinary annuity or an annuity due: ptEndOfPeriod NumberOfPeriods must be used if payments are at the end of each period. If the payments are at the beginning of the periode, ptStartOfPeriod must be used.

See also

• FutureValue
• InterestRate
• NumberOfPeriods
• PresentValue
• TPaymentTime
• CashFlowFunctions