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FinPeriodInterest (Function) In french: FinIntérêtPériode Calculates for a given period the amount of interests due for a loan paid off by fixed periodic payments with a fixed interest rate.
// Amount of interests due for the second year of a loan. // This is a loan of $25000 with a 5% interest rate over 6 years. ResInterestPeriod = FinPeriodInterest(25000, 5, 2, 6)
Syntax
<Result> = FinPeriodInterest([<Capital> [, <Rate> [, <Period> [, <Duration>]]]])
<Result>: Real or currency Amount of interests. This amount can be:- negative: a payment must be made;
- positive: a credit must be made.
<Capital>: Optional real or currency Amount of the loan (0 by default). <Rate>: Optional real Interest rate, expressed in percentage (1 by default). For example, for a 5% rate, this parameter will be set to 5. <Period>: Optional integer Period over which the amount of interests must be calculated (1 by default). <Duration>: Optional real Number of periods for the loan (1 by default). Remarks The calculations can be performed according to months or years. <Rate>, <Duration> and <Period> must correspond to the same unit. Therefore, to get the amount of interests due on the 5th month of a 3-year loan, with a yearly interest rate of 5%, you can use: - units expressed in months (for a monthly payment for example):
- <Duration> = 3 x 12 months = 36
- <Period> = 5
- <Rate> = 5% / 12
- units expressed in years (for a yearly payment for example):
- <Duration> = 3 years
- <Period> = 5/36
- <Rate> = 5%
Caution: FinPeriodInterest returns no error code. To determine if this function has generated errors, use FinError. To get more details on the error, use ErrorInfo with the errMessage constant.
Related Examples:
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Complete examples (WINDEV): WD Loan
[ + ] The power of WINDEV and the ease-of-use of WLanguage have allowed us to develop this application within a single day! This example is used to simulate loans and to: - calculate the amount of the monthly repayments from the amount borrowed - calculate the amount that can be borrowed from a given monthly repayment - calculate the income of an investment from a monthly payment For each case, you have the ability to view the amortization table corresponding to your parameters.
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Unit examples (WINDEV Mobile): The Financial functions
[ + ] Use of financial functions. This example calculates the number of payments needed to pay back a loan, the total cost of a loan as well as the interests returned by an investment.
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