| Applying science to business management |
   
term
Format: term( pmt, rate, fv )
Arguments: (real) pmt Periodic payment
(real) rate Periodic interest rate (1=100%)
(real) fv Future value
Returns: (real) The number of periods required for a
periodic investment of pmt at an interest rate of rate
to grow to fv
Description: The term is calculated using the following
equation:
Examples: term(1000,8%,20000)
= 12.416 (years required for an annual
investment of $1000 at 8% to grow to $20000)
See Also: rate, pv, fv,
pmt, npv, irr,
cf
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