annuity (<periodic rate, number of periods>)
the annuity of <periodic rate, number of periods>
The annuity function calculates the present value of one payment unit.
Multiplying the result of the annuity function by the amount of a single payment calculates the present value for the accrual payments.
Compute the monthly installments on a $60,000 loan at an interest rate of 10% and repayment in 60 installments. For this example, the periodic rate is 10/100ths (10%) divided by 12 months in the year, and there are 60 periods.
Create a button and place the following handler in its script:
put 60000 / annuity (10/100/12, 60)
This text has been mechanically extracted from the Oracle Media Objects 184.108.40.206 MediaTalk Reference, © 1995 Oracle Corporation, and is provided here solely for educational/historical purposes.