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Calculates the amount that must be paid every period to repay a loan.
Syntax
client server public static real payment(
real principal,
real interest,
real life)
Run On
Called
Parameters
- principal
Type: real
The amount that was originally borrowed.
- interest
Type: real
The interest that is applied each period to the amount borrowed.
- life
Type: real
The number of periods over which the loan is repaid.
Return Value
Type: real
The amount that must be paid every period.