payadv
Periodic payment given number of advance payments
Description
computes the periodic payment given a number of advance payments.Payment
= payadv(Rate
,NumPeriods
,PresentValue
,FutureValue
,Advance
)
Examples
Compute the Periodic Payment
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
Rate
— Lending or borrowing rate per period
decimal
Lending or borrowing rate per period, specified as a decimal. The
Rate
must be greater than or equal to
0
.
Data Types: double
NumPeriods
— Number of periods in the life of the instrument
integer
Number of periods in the life of the instrument, specified as an integer.
Data Types: double
PresentValue
— Present value of instrument
numeric
Present value of the instrument, specified as a numeric.
Data Types: double
FutureValue
— Future value or target value attained after NumPeriods
periods
numeric
Future value or target value to be attained after
NumPeriods
periods, specified as a numeric.
Data Types: double
Advance
— Number of advance payments
integer
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
Payment
— Periodic payment
numeric
Periodic payment, returned as the periodic payment given a number of advance payments.
Version History
Introduced before R2006a
MATLAB Command
You clicked a link that corresponds to this MATLAB command:
Run the command by entering it in the MATLAB Command Window. Web browsers do not support MATLAB commands.
Select a Web Site
Choose a web site to get translated content where available and see local events and offers. Based on your location, we recommend that you select: .
You can also select a web site from the following list:
How to Get Best Site Performance
Select the China site (in Chinese or English) for best site performance. Other MathWorks country sites are not optimized for visits from your location.
Americas
- América Latina (Español)
- Canada (English)
- United States (English)
Europe
- Belgium (English)
- Denmark (English)
- Deutschland (Deutsch)
- España (Español)
- Finland (English)
- France (Français)
- Ireland (English)
- Italia (Italiano)
- Luxembourg (English)
- Netherlands (English)
- Norway (English)
- Österreich (Deutsch)
- Portugal (English)
- Sweden (English)
- Switzerland
- United Kingdom (English)