help payper

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Title

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


Syntax

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

    options                   Description
    -------------------------------------------------------------------------
    Main
      pv(#)                   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
    -------------------------------------------------------------------------

        timeunit       definition
        ---------------------------------------------------------------------
        m               monthly payments
        q               quarterly payments
        h               halfyearly payments
        y               yearly payments
        ---------------------------------------------------------------------


Description

    payper Returns the periodic constant payment of a loan or annuity (based
    on a constant interest rate). payper generates 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 formula nper(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 is matpay.


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

    payper saves the following in r():

    Scalars   
      r(pv)          present value
      r(nper)        total number of payment periods
      r(freq)        number of payment within a year
      r(iy)          annual interest rate
      r(PMT)         periodic constant payment

    Matrices  
      r(matpay)      schedule of payments


Author

Maximo Sangiacomo
Email:  msangia@hotmail.com