Microsoft Office Tutorials and References
In Depth Information
Examples of Functions for Financial Professionals
per This specifies for which period the principal payment will be
returned. It must be in the range 1 to 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 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.
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