rate {tvm}

The rate of a loan with constant payments (french type amortization)

Description

The rate of a loan with constant payments (french type amortization)

Usage

rate(amt, maturity, pmt, extrema = c(1e-04, 1e+09), tol = 1e-04)

Arguments

amt

The amount of the loan

maturity

The maturity of the loan

pmt

The payments of the loan

extrema

Vector of length 2 that has the minimum and maximum value to search for the rate

tol

The tolerance to use in the root finding algorithm

Details

The periodicity of the maturity and the payment must match, and this will be the periodicity of the rate (which is returned as an effective rate)

Examples

rate(amt = 100, maturity = 10, pmt = 15)