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annuity   function



Syntax:
annuityFactor = annuity(rate, periods)

Description:
Returns the double-precison 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