Main Content

payper

Periodic payment of loan or annuity

Description

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

example

Payment = payper(___,FutureValue,Due) adds optional arguments.

example

Examples

collapse all

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

Input Arguments

collapse all

Interest rate per period, specified as a decimal.

Data Types: double

Number of payment periods in the life of instrument, specified as an integer.

Data Types: double

Present value of the instrument, specified as a numeric.

Data Types: double

(Optional) Future value or target value to be attained after NumPeriods periods, specified as a numeric.

Data Types: double

(Optional) Indicator for when payments are due, specified as a logical with a value of 0 = end of period (default), or 1 = beginning of period.

Data Types: logical

Output Arguments

collapse all

Periodic payment, returns the periodic payment of a loan or annuity.

More About

collapse all

Annuity

An annuity is a series of payments over a period of time.

The payments are usually in equal amounts and usually at regular intervals such as quarterly, semiannually, or annually.

Version History

Introduced before R2006a

Go to top of page