{smcl} {* *! version 1 jan2013}{...} {cmd:help payper} {hline} {title:Title} {p2colset 8 20 21 2}{...} {p2col:{hi:payper} {hline 2}}Returns the periodic payment and the entire schedule of a loan or annuity{p_end} {p2colreset}{...} {title:Syntax} {p 8 18 2} {cmd:payper} {cmd:, pv(#) nper(#)} {cmdab:freq:uency(}{help tsset:timeunit}{cmd:)} {cmd:rate(#)} [ {it:options} ] {synoptset 24 tabbed}{...} {synopthdr} {synoptline} {syntab:Main} {synopt:{cmd:pv(#)}}Present value of the instrument (positive number) {p_end} {synopt:{cmd:nper(#)}}Number of payment periods in the life of the instrument (positive integer) {p_end} {synopt:{cmdab:freq:uency:(}{it:timeunit}{cmd:)}}Time unit of payments (m, q, h, y) {p_end} {synopt:{cmd:rate(#)}}Nominal annual interest rate (in decimal form) {p_end} {syntab:Options} {synopt:{cmdab:res:ult(}{it:mymatrix}{cmd:)}}Set the payment's schedule matrix name {p_end} {synoptline} {p2colreset}{...} {marker statname}{...} {synoptset 17}{...} {synopt:{space 4}{it:timeunit}}definition{p_end} {space 4}{synoptline} {synopt:{space 4}{opt m}} monthly payments{p_end} {synopt:{space 4}{opt q}} quarterly payments{p_end} {synopt:{space 4}{opt h}} halfyearly payments{p_end} {synopt:{space 4}{opt y}} yearly payments{p_end} {space 4}{synoptline} {p2colreset}{...} {title:Description} {pstd} {cmd:payper} Returns the periodic constant payment of a loan or annuity (based on a constant interest rate). {cmd: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. {dlgtab:Options} {phang} {opt pv(#)} Present value of the loan or instrument. {phang} {opt 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 {opt nper(60)}. {phang} {cmdab:freq:uency:(}{it:timeunit}{cmd:)} Time unit of payments (m, q, h, y). Used to convert the annual interest rate into a periodic rate. {phang} {opt rate(#)} Nominal annual interest rate (in decimal form). {it:i.e.} an annual 5.24% interest rate should be written 0.0524. {phang} {cmdab:res:ult(}{it:mymatrix}{cmd:)} Set the payment's schedule matrix name saved in results, default is {bf:matpay}. {title:Examples} {phang}{cmd:. payper, pv(10000) nper(60) frequency(m) rate(.1125)}{p_end} {phang}{cmd:. payper, pv(1500) nper(5) frequency(y) rate(.125) res(loan1)}{p_end} {phang}{cmd:. mat list r(loan1)}{p_end} {title:Saved results} {pstd} {cmd:payper} saves the following in {cmd:r()}: {synoptset 15 tabbed}{...} {p2col 5 15 19 2: Scalars}{p_end} {synopt:{cmd:r(pv)}}present value{p_end} {synopt:{cmd:r(nper)}}total number of payment periods{p_end} {synopt:{cmd:r(freq)}}number of payment within a year{p_end} {synopt:{cmd:r(iy)}}annual interest rate{p_end} {synopt:{cmd:r(PMT)}}periodic constant payment{p_end} {p2col 5 15 19 2: Matrices}{p_end} {synopt:{cmd:r(matpay)}}schedule of payments{p_end} {p2colreset}{...} {title:Author} Maximo Sangiacomo {hi:Email: {browse "mailto:msangia@hotmail.com":msangia@hotmail.com}}