Periodic payment given number of advance payments

## Syntax

```Payment = payadv(Rate,NumPeriods,PresentValue,FutureValue,Advance)
```

## Arguments

 `Rate` Lending or borrowing rate per period. Enter as a decimal fraction. Must be greater than or equal to `0`. `NumPeriods` Number of periods in the life of the instrument. `PresentValue` Present value of the instrument. `FutureValue` Future value or target value to be attained after `NumPeriods` periods. `Advance` Number of advance payments. If the payments are made at the beginning of the period, add `1` to `Advance`.

## Description

`Payment = payadv(Rate,NumPeriods,PresentValue,FutureValue,Advance)` returns the periodic payment given a number of advance payments.

## Examples

collapse all

This example shows how to compute the periodic payment, given a number of advance payments. For example, the present value of a loan is \$1000.00 and it will be paid in full in 12 months. The annual interest rate is 10% and three payments are made at closing time.

`Payment = payadv(0.1/12, 12, 1000, 0, 3)`
```Payment = 85.9389 ```