Syntax
annuityFactor = annuity(rate, periods)
Description
Returns the double-precison 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:
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1-(1+rate)periods
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annuityFactor = |
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rate
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See also
compound
