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7.1.4 ANNUITY



The ANNUITY function returns a numeric value that approximates the ratio of an annuity paid at the end of each period, for a given number of periods, at a given interest rate, to an initial value of one. The number of periods is specified by argument-2; the rate of interest is specified by argument-1. For example, if argument-1 is zero and argument-2 is four, the value returned is the approximation of the ratio 1 / 4.

The function type is numeric.


    ___ Format _____________________________________________________________ 
   |                                                                        |
   | >>__FUNCTION ANNUITY__(argument-1 argument-2)_______________________>< |
   |                                                                        |
   |________________________________________________________________________|
argument-1
Must be class numeric. The value of argument-1 must be greater than or equal to zero.

argument-2
Must be a positive integer.

When the value of argument-1 is zero, the value returned by the function is the approximation of:1 / ARGUMENT-2

When the value of argument-1 is not zero, the value of the function is the approximation of:


     ARGUMENT-1 / (1 - (1 + ARGUMENT-1) ** (- ARGUMENT-2))


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