You are viewing the documentation for Blueriq 17. Documentation for other versions is available in our documentation directory.
ANNUITY
This function is able to directly compute an annuity for you. An annuity is a terminating "stream" of fixed payments, i.e., a collection of payments to be periodically received over a specified period of time.
It is computed using this formula:
where
- J = monthly payment
- i = rate of interest
- n = number of terms
- T = loan amount
Syntax
ANNUITY ( loan_amount , interest_rate , number_of_terms )
Inputs
loan_amount - The total currency amount that should be paid back.
interest_rate - The interest rate as type percentage that should be paid on a loan (As a fraction, e.g. 5% = 0.05)
- number_of_terms - The number of terms as integer.
Return type
number - The monthly payment.
Examples
| Expression | Result | Type |
|---|---|---|
| ANNUITY ( 1000 , 0.05 , 12 ) | 112.8254 | Number |
| ANNUITY ( 1000 , 0.05 , 1 ) | 1050 | Number |
Overview
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