Syntax:
annuityFactor
= annuity(rate
, periods
)
Description:
Returns the doubleprecison annuity factor for the given interest rate and number of periods. The parameters rate and periods are double precision variables, and the returned value annuityFactor is also a double precision value. The interest rate should be expressed as a fraction of 1; for example, 5.2 percent should be expressed as 0.052.
Note:
annuity
uses the following formula:


1(1+rate )^{periods}

annuityFactor =





^{rate}

See Also:
compound