annuity | ||||||||||
Type | function | |||||||||
Dictionary | LCS | |||||||||
Library | LiveCode Script | |||||||||
Syntax |
| |||||||||
Summary | Computes the value of an annuity given an interest rate and a number of payments. | |||||||||
Introduced | 1.0 | |||||||||
OS | mac, windows, linux, ios, android | |||||||||
Platforms | desktop, server, mobile | |||||||||
Parameters |
| |||||||||
Example |
| |||||||||
Values |
| |||||||||
Related | Control Structure: function Glossary: return, math operation Function: compound, value | |||||||||
Description | Use the annuity function to calculate the present or future value of an annuity or to calculate loan payments. The formula for the value of an ordinary annuity is
The annuity function calculates this value. The numberOfPeriods and the interestRate must use the same unit of time. For example, if the periods are months, the interest rate is the interest per month. You can use the annuity function to calculate the amount of loan payments as follows:
For example, if the loan is for $2500 at an interest rate of 2% per month and is to be repaid in a year, the monthly payment is 2500/annuity(.02,12) or $236.40. If a math operation on finite inputs produces a non-finite output, an execution error is thrown. See math operations for more information. | |||||||||
Tags | math |