Working with financial functions (II)
 ISPMT(rate,per,nper,pv) function   Calculates the interest payed during a specific investment period. This function is included to provide compatibility with Lotus 1-2-3.   Rate = is the interest rate of the investment. Period = is the period whose interest is being ascertained and needs to be comprised of between 1 and the nper parameter. nper = is the total number of payment periods. va = is the actual value of the investment.   EG: for the ISPMT(8%/12;1;5*12;30000) the result should be -196.667, which is the interest payed in the first month of a loan of 30.000€ over 5 years.     NPER (rate, pmt, pv, fv, type) function   Returns the number of payments of an investment, based on fixed and periodic payments and a fixed rate of interest.   Rate =is the interest rate per period. Pmt =is the payment made each period; it cannot change over the life of the annuity. Typically, pmt contains principal and interest but no other fees or taxes. Pv =is the present value, or the lump-sum amount that a series of future payments is worth right now. Fv= is the future value, or a cash balance you want to attain after the last payment is made. If fv is omitted, it is assumed to be 0 (the future value of a loan, for example, is 0). Type = is the number 0 or 1 and indicates when payments are due.   Eg: for the NPER(6%;-599,55;100000;0;0), function we should obtain 360, which is the number of quotas for a loan of 10.000€ with an interest rate of 6% and a monthly quota of 599.55.     PMT(rate,nper,pv,fv,type) Calculates the payment for a loan based on constant payments and a constant interest rate. This function is elaborated on more in the step by step exercises found at the end of this page.   IPMT(rate,per,nper,pv,fv,type) Returns the interest payment for an investment for a given period This function is elaborated on more in the step by step exercises found at the bottom of this page.   PPMT(rate,per,nper,pv,fv,type) Returns the payment on the principal for a given period for an investment based on periodic, constant payments and a constant interest rate. This function is elaborated on more in the step by step exercises found at the end of this page.   SLN function (cost;salvage;life) Returns the straight-line depreciation of an asset for one period. Cost = is the initial cost of the investment Salvage = is the value at the end of the depreciation (sometimes called the salvage value of the asset). Life = is the number of periods over which the asset is depreciated (sometimes called the useful life of the asset). Eg: for the SLN(20000; 9000;5) function we should obtain 2.200€ which is the depreciation in one year of the life of an asset.   SYD function (cost;salvage;life;per) Returns the sum-of-years' digits depreciation of an asset for a specified period. Cost = is the initial cost of the investment Salvage = is the value at the end of the depreciation (sometimes called the salvage value of the asset). Life = is the number of periods over which the asset is depreciated (sometimes called the useful life of the asset). Period = is the period and must use the same units as life.   Eg: for the SYD(20000;9000;5;2) function we should obtain 2.933,33 € which is the resulting depreciation over 2 years.
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