Periodic payment given number of advance payments

## Syntax

``Payment = payadv(Rate,NumPeriods,PresentValue,FutureValue,Advance)``

## Description

example

````Payment = payadv(Rate,NumPeriods,PresentValue,FutureValue,Advance)` computes 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 ```

## Input Arguments

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Lending or borrowing rate per period, specified as a decimal. The `Rate` must be greater than or equal to `0`.

Data Types: `double`

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

Data Types: `double`

Present value of the instrument, specified as a numeric.

Data Types: `double`

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

Data Types: `double`

Number of advance payments, specified as an integer. If the payments are made at the beginning of the period, add `1` to `Advance`.

Data Types: `double`

## Output Arguments

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Periodic payment, returned as the periodic payment given a number of advance payments.