INT_PAYMENT Function
Evaluates the interest payment for an investment for a given period.
Usage
result = INT_PAYMENT(rate, period, n_periods, present_value, future_value, when)
Input Parameters
rate—Interest rate.
period—Payment period.
n_periods—Total number of periods.
present_value—The current value of a stream of future payments, after discounting the payments using some interest rate.
future_value—The value, at some time in the future, of a current amount and a stream of payments.
when—Time in each period when the payment is made, either 0 for at the end of period or 1 for at the beginning of period.
Returned Value
result—The interest payment for an investment for a given period. If no result can be computed, NaN is returned.
Input Keywords
Double—If present and nonzero, double precision is used.
Discussion
Function INT_PAYMENT computes the interest payment for an investment for a given period. It is computed using the following:
Example
In this example, INT_PAYMENT computes the interest payment for the second year of a 25-year $100,000 loan with an annual interest rate of 8%. The payment is made at the end of each period.
PRINT, INT_PAYMENT(0.08, 2, 25, 100000.00, 0.0, 0)
; PV-WAVE prints: -7890.57
