The ANNUITY function (annuity immediate) returns a numeric value that approximates the ratio of an annuity paid at the end of each period for the number of periods specified by argument-1 and is applied at the end of the period before the payment. The type of this function is numeric.
Usage
FUNCTION ANNUITY (argument-1 argument-2)
Parameters
1. Argument-1 must be class numeric.
2. The value of argument-1 must be greater than or equal to zero.
3. Argument-2 must be a positive integer.
Returned Values
1. When the value of argument-1 is zero, the value of the function is the approximation of the following:
1 / argument-2
2. When the value of argument-1 is not zero, the value of the function is the approximation of the following:
Argument-1 / (1 - (1 + argument-1) ** (- argument-2))