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- PMT function in Javascript
- interest_rate : the interest rate for the loan.
- number_payments : the number of payments for the loan.
- PV : the present value or principal of the loan.
- FV : It is the future value or the loan amount outstanding after all payments have been made.
- Type is : It indicates when the payments are due. Type can be one of the following values:
- 0, 1
- function PMT (ir, np, pv, fv ) {
- /*
- ir - interest rate per month
- np - number of periods (months)
- pv - present value
- fv - future value (residual value)
- */
- pmt = ( ir * ( pv * Math.pow ( (ir+1), np ) + fv ) ) / ( ( ir + 1 ) * ( Math.pow ( (ir+1), np) -1 ) );
- return pmt;
- }
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