Interest
in package
Table of Contents
Methods
- payment() : string|float
- IPMT.
- rate() : string|float
- RATE.
- schedulePayment() : string|float
- ISPMT.
Methods
payment()
IPMT.
public
static payment(mixed $interestRate, mixed $period, mixed $numberOfPeriods, mixed $presentValue[, mixed $futureValue = 0 ][, mixed $type = FinancialConstants::PAYMENT_END_OF_PERIOD ]) : string|float
Returns the interest payment for a given period for an investment based on periodic, constant payments and a constant interest rate.
Excel Function: IPMT(rate,per,nper,pv[,fv][,type])
Parameters
- $interestRate : mixed
-
Interest rate per period
- $period : mixed
-
Period for which we want to find the interest
- $numberOfPeriods : mixed
-
Number of periods
- $presentValue : mixed
-
Present Value
- $futureValue : mixed = 0
-
Future Value
- $type : mixed = FinancialConstants::PAYMENT_END_OF_PERIOD
-
Payment type: 0 = at the end of each period, 1 = at the beginning of each period
Return values
string|floatrate()
RATE.
public
static rate(mixed $numberOfPeriods, mixed $payment, mixed $presentValue[, mixed $futureValue = 0.0 ][, mixed $type = FinancialConstants::PAYMENT_END_OF_PERIOD ][, mixed $guess = 0.1 ]) : string|float
Returns the interest rate per period of an annuity. RATE is calculated by iteration and can have zero or more solutions. If the successive results of RATE do not converge to within 0.0000001 after 20 iterations, RATE returns the #NUM! error value.
Excel Function: RATE(nper,pmt,pv[,fv[,type[,guess]]])
Parameters
- $numberOfPeriods : mixed
-
The total number of payment periods in an annuity
- $payment : mixed
-
The payment made each period and cannot change over the life of the annuity. Typically, pmt includes principal and interest but no other fees or taxes.
- $presentValue : mixed
-
The present value - the total amount that a series of future payments is worth now
- $futureValue : mixed = 0.0
-
The future value, or a cash balance you want to attain after the last payment is made. If fv is omitted, it is assumed to be 0 (the future value of a loan, for example, is 0).
- $type : mixed = FinancialConstants::PAYMENT_END_OF_PERIOD
-
A number 0 or 1 and indicates when payments are due: 0 or omitted At the end of the period. 1 At the beginning of the period.
- $guess : mixed = 0.1
-
Your guess for what the rate will be. If you omit guess, it is assumed to be 10 percent.
Return values
string|floatschedulePayment()
ISPMT.
public
static schedulePayment(mixed $interestRate, mixed $period, mixed $numberOfPeriods, mixed $principleRemaining) : string|float
Returns the interest payment for an investment based on an interest rate and a constant payment schedule.
Excel Function: =ISPMT(interest_rate, period, number_payments, pv)
Parameters
- $interestRate : mixed
-
is the interest rate for the investment
- $period : mixed
-
is the period to calculate the interest rate. It must be betweeen 1 and number_payments.
- $numberOfPeriods : mixed
-
is the number of payments for the annuity
- $principleRemaining : mixed
-
is the loan amount or present value of the payments