|
Returns
the number of periods needed to reach a given future value from periodic
constant payments into an interest bearing account.
Note:
Interest rate calculation methods differ from
country to country. This function calculates an interest rate based
on U.S. interest rate standards.
Syntax
Term(
n1
,
n2
,
n3
)
Parameters
|
Parameter
|
Description
|
|
n1
|
A numeric value or expression representing
the payment amount made at the end of each period.
|
|
n2
|
A numeric value or expression representing
the interest rate per period of the investment.
|
|
n3
|
A numeric value or expression representing
the future value of the investment.
|
The function returns an error if any parameter
is negative or 0. If any parameter is null, the function returns
null.
Note:
FormCalc follows the IEEE-754 international
standard when handling floating point numeric values. For more information,
see
Number literals
.
Examples
The
following expressions are examples that use the
Term
function:
|
Expression
|
Returns
|
|
Term(475, .05, 1500)
|
3.00477517728
(or roughly
3), which is the number of periods needed to grow a payment of $475
into $1500, with an interest rate of 5% per period.
|
|
Term(2500, 0.0275 + 0.0025, 5000)
|
1.97128786369
, which is
the number of periods needed to grow payments of $2500 into $5000,
with an interest rate of 3% per period.
|
|
Rate(Inv_Value[0], Int_Rate + 0.0050, Target_Value)
|
This example uses variables in place of
actual numeric values or expressions. In this case, the first occurrence
of the variable
Inv_Value
is used as the payment
amount, half a percentage point is added to the variable
Int_Rate
to use
as the interest rate, and the variable
Target_Value
is
used as the future value of the investment.
|
|
|
|
