LoanPayment

Syntax

LoanPayment(Capital Cost, First Year, Loan Term)

or

LoanPayment(Capital Cost, First Year, Loan Term, Interest Rate)

Description

Calculates annual payments on a loan, from data on total capital cost, year of loan, the term of the loan (enter 0 if there is no loan), and the interest rate charged for the loan.

Parameters

• Capital Cost: the principle of the loan.

• First Year: the first year of the loan.

• Loan Term: a whole number of years - the period of loan on the capital cost.  Enter 0 if there is no loan.

• Interest Rate (optional): the rate charged on the loan for the capital cost.  Enter as either a fraction (e.g., 0.05) or a percent (e.g., 5%).  Defaults to the study discount rate if not included.  Change the study discount rate on the General: Parameters: Costing screen.

Example

LoanPayment(1000000, 2005, 15, 5%)

Calculates annual payments of $96,342.29, starting in 2005 for a 15-year loan of $1,000,000 at an interest rate of 5%.