The Financial Functions

For each of these functions that require the interest rate as one of the arguments, you must supply the per-period interest. For example, a 6% annual interest rate is 0.005 per month and 0.015 per quarter. These can
be supplied as .06/12 and .06/4 respectively.

In the financial function descriptions below the following definitions are used:

fv Future value
pv Present value
pmt Payment amount
int Per-period interest
np Number of periods

fv1(pmt;int;np) Future value of a series of equal payments based on
end-of-period payment amount, interest rate, and
number of compounding periods.

fv2(pv;int;np) Future value of present value based on interest rate
and number of compounding periods.

pv1(pmt;int;np) Present value of a series of equal payments based on
payment amount, interest rate, and number of com-
pounding periods.

pv2(fv;int;np) Present value of a future value based on interest
rate and number of compounding periods.

pmt1(int;np;pv) Payment needed to pay off the present value based
on interest rate and number of compounding periods.

pmt2(int;np;fv) Payment needed to pay off future value based on
interest rate and number of compounding periods.

rate1(fv;pv;np) Interest rate required to return the future value
based on present value and number of compounding
periods.

rate2(fv;pmt;np) Interest rate required to return the future value
based on the payment amount and the number of
compounding periods.

rate3(pv;pmt;np) Interest rate required for an annuity (represented by
pv) to return the specified amount for the specified
number of periods.

term1(pv;int;fv) Number of compounding periods for a return of
future value based on present value and interest
rate.

term2(pmt;int;fv) Number of payment periods for a return of future
value based on payments and interest rate.

term3(pmt;int;pv) Number of payment periods needed for the present
value balance to reach zero, based on the payment
amount and interest rate.