Periods(IR, PV, FV, PMT)
Last updated August 2, 2001
Version: 1 | Requires: ColdFusion 5 | Library: FinancialLib
Description:
Calculate the number of payments for a loan when given the payment, interest rate, and value of the loan.
Return Values:
Returns a numeric value.
Example:
Parameters:
| Name | Description | Required |
|---|---|---|
| IR | Interest rate per year (8% = 0.08) | Yes |
| PV | Present Value | Yes |
| FV | Future Value | Yes |
| PMT | Payment Amount | Yes |
Full UDF Source:
<cfscript>
/**
* Calculate the number of payments for a loan.
*
* @param IR Interest rate per year (8% = 0.08)
* @param PV Present Value
* @param FV Future Value
* @param PMT Payment Amount
* @return Returns a numeric value.
* @author Raymond Thompson (rayt@qsystems.net)
* @version 1, August 2, 2001
*/
function Periods(IR,PV,FV,PMT) {
var tir = ir / 12;
var scale = 0;
var np=0;
var tpv = -abs(pv);
var tfv = -abs(fv);
var tpmt = abs(pmt);
if(ArrayLen(Arguments) gt 4) {
scale = 10^abs(Arguments[5]);
}
np = log((-tfv * tir + tpmt) / (tpmt + tir * tpv)) / log(1 + tir);
if (scale NEQ 0)
np = int(np * scale + 0.5) / scale;
return(np);
}
</cfscript>
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