Microsoft Office Tutorials and References

In Depth Information

**Examples of Functions for Financial Professionals**

•
per

per
—
This specifies for which period the principal payment will be

returned. It must be in the range 1 to nper.

•
nper

nper
—
This is the total number of payment periods in an annuity.

•
ppv
—
This is the present value
—
the total amount that a series of

future payments is worth now.

•
ffv
—
This is the future value, or a cash balance you want to attain

after the last payment is made. If fvis omitted, it is assumed to be 0,

which means the future value of a loan is zero.

•
type

type
—
This is either 0 or 1 to indicate when payments are due. The de-

fault value of 0 assumes that payments are due at the end of the

period. A value of 1 means the payments are due at the beginning of

each period.

In
Figure 13.7
, cell B9 calculates the principal payment for Period 1. The Per

argument comes from the month number in column A. Copying the formula down

for all months produces an amortization table.