Xbasic
TERM Function
Syntax
Output_String as C = term(N Principal ,N Payment ,N Interest )
Arguments
- Principal
The amount of a loan. Numeric
- Payment
The amount of a payment per time unit. Numeric
- Interest
The interest rate (e.g. .06) per time unit. Numeric
Description
Computes the term of a loan.
Discussion
TERM() returns the number of time units required to repay a loan.
Example
term(10000, 1000, .06) ? 15.725209 term(10000, 1000, .07) ? 17.794810
See Also