payment: An exact formula for the monthly repayment

Description Usage Arguments Value Examples

Description

source: https://en.wikipedia.org/wiki/Compound_interest

Usage

1
payment(p, r, n)

Arguments

p

is the principal.

r

is the per annum interest rate (as percent e.g. 4.5).

n

is the number of payment periods.

Value

Monthly epayment.

Examples

1
payment(150000, 4.5, 360)

pgstevenson/borrowr documentation built on May 15, 2019, 10:02 p.m.