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ANNUITY
 
Formula:

ANNUITY
Description: Repayement of credit debt
Syntax: AnnualRate = RND(CREDIT * (((Ir * (1 + Ir)^Ny)) / ((1 + Ir)^Ny-1)) / 5,2) * 5
Costs = (AnnualRate * Ny) - CREDIT
Note:

Calculates the annual repayment rate of a loan debt over a number of years.
In addition, the costs incurred.
Category: Banking and Finance / Finance products
Creator: Banking
Account: Free
Published: 10 August 2010
Tags: formula loan amortization loan debt repayment costs

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