help payper-------------------------------------------------------------------------------

Title

payper-- Returns the periodic payment and the entire schedule of a loan or annuity

Syntax

payper, pv(#) nper(#)frequency(timeunit)rate(#)[options]

optionsDescription ------------------------------------------------------------------------- Mainpv(#)Present value of the instrument (positive number)nper(#)Number of payment periods in the life of the instrument (positive integer)frequency(timeunit)Time unit of payments (m, q, h, y)rate(#)Nominal annual interest rate (in decimal form)Options

result(mymatrix)Set the payment's schedule matrix name -------------------------------------------------------------------------

timeunitdefinition ---------------------------------------------------------------------mmonthly paymentsqquarterly paymentshhalfyearly paymentsyyearly payments ---------------------------------------------------------------------

Description

payperReturns the periodic constant payment of a loan or annuity (based on a constant interest rate).paypergenerates a five column matrix (rows = nper) containing the entire schedule of (end of period) periodic constant payments distinguishing between: period number, principal, interest, balance and payment.

+---------+ ----+ Options +----------------------------------------------------------

pv(#)Present value of the loan or instrument.

nper(#)Number of payment periods in the life of the instrument. For example, if you get a five-year loan and make monthly payments, the loan will have 5*12 = 60 periods. The formulanper(60).

frequency(timeunit)Time unit of payments (m, q, h, y). Used to convert the annual interest rate into a periodic rate.

rate(#)Nominal annual interest rate (in decimal form).i.e.an annual 5.24% interest rate should be written 0.0524.

result(mymatrix)Set the payment's schedule matrix name saved in results, default ismatpay.

Examples

. payper, pv(10000) nper(60) frequency(m) rate(.1125). payper, pv(1500) nper(5) frequency(y) rate(.125) res(loan1). mat list r(loan1)

Saved results

paypersaves the following inr():Scalars

r(pv)present valuer(nper)total number of payment periodsr(freq)number of payment within a yearr(iy)annual interest rater(PMT)periodic constant paymentMatrices

r(matpay)schedule of payments

AuthorMaximo Sangiacomo

Email:msangia@hotmail.com