Annuity Function


annuity (<periodic rate, number of periods>)
or 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: on mouseUp put 60000 / annuity (10/100/12, 60) end mouseUp
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