princ_month {cumprinc}

Principal to be paid back at time n

Description

Principal to be paid back at time n

Usage

princ_month(s, r, t, n)

Arguments

s

original loan amount

r

interest rate. Divide by 100 if in a percent and again by 12 if yearly

t

loan term in months

n

month to return value for

Value

numeric value of principal paid in given month

Examples

s <- 10000
r <- 5 / 100 / 12
t <- 60
n <- 5
princ_month( s, r, t, n)