## Payment(IR, PV, FV, NP)

##### Last updated August 02, 2001

**Version:** 1 |
**Requires:** CF5 |
**Library:** FinancialLib

**Description:**

Calculate the payment on a loan given the interest rate, periods, and present value. The value returned is negative since the payment represents a reduction in the account. To get the simple value, call Abs on the result.

**Return Values:**

Returns a numeric value.

**Example:**

```
Payment = <cfoutput>#Payment(0.08,20000,0,24)#</cfoutput>
```

**Parameters:**

Name | Description | Required |
---|---|---|

IR | Interest rate per year (8.5% = 0.085) | Yes |

PV | Present Value | Yes |

FV | Future Value (Generally zero for calculating payments. Non zero for pay down to ammount.) | Yes |

NP | Number of periods. | Yes |

**Full UDF Source: **

```
/**
* Calculate payment on loan.
*
* @param IR Interest rate per year (8.5% = 0.085)
* @param PV Present Value
* @param FV Future Value (Generally zero for calculating payments. Non zero for pay down to ammount.)
* @param NP Number of periods.
* @return Returns a numeric value.
* @author Raymond Thompson (rayt@qsystems.net)
* @version 1, August 2, 2001
*/
function Payment(IR,PV,FV,NP) {
var tir = abs(ir) / 12;
var tfv = abs(fv);
var tpv = abs(pv);
var scale = 0;
var pmt=0;
var q = (1 + tir)^ abs(np);
if(ArrayLen(Arguments) gt 4) {
scale = 10^abs(Arguments[5]);
}
pmt = (tir * (tfv + q * tpv)) / (-1 + q);
if (scale NEQ 0)
pmt = int(pmt * scale + 0.5) / scale;
return(-pmt);
}
```

### Search CFLib.org

### Latest Additions

Raymond Camden added

QueryDeleteRows

November 04, 2017

Leigh added

nullPad

May 11, 2016

Raymond Camden added

stripHTML

May 10, 2016

Kevin Cotton added

date2ExcelDate

May 05, 2016

Raymond Camden added

CapFirst

April 25, 2016