Syntax
annuityFactor = annuity(rate, periods)
Description
Returns the doubleprecison annuity factor for the given interest rate and number of periods. The parameters rate and periods are double precision variables, and the returned value annuityFactor is also a double precision value. The interest rate should be expressed as a fraction of 1; for example, 5.2 percent should be expressed as 0.052.
Note
annuity uses the following formula:


1(1+rate)^{periods}

annuityFactor = 




^{rate}

See also
compound