```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
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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
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timeunit       definition
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m               monthly payments
q               quarterly payments
h               halfyearly payments
y               yearly payments
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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.

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----+ 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

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