Calculate periodic payment for a future cash value based on interest rate and number of periods. Get payment amount and total payment.

Periodic Payment for a Future Cash

Purpose

The Periodic Payment for a Future Cash function helps you calculate the regular payment amount needed to achieve a future cash goal based on a specified interest rate and number of periods.

Use Cases

• Planning for savings or investments to reach a specific future amount.
• Determining the monthly payment required to pay off a loan or debt by a certain date.

How to Use

1. Enter the future cash amount you want to achieve.
2. Input the annual interest rate you expect to earn or pay.
3. Specify the number of periods over which you will make payments or receive the cash.
4. Click on the calculate button to get the result.

Input Values

1. Future Value: The amount of cash you want to have in the future.
2. Interest Rate: The annual interest rate, default unit is percent per year.
3. Number of Periods: The total number of payment periods, default unit is months.

Output Values

1. Payment Per Period: The regular payment amount required to reach the future cash goal.
2. Total Payment: The total amount of all payments made over the specified number of periods.

Any other Instruction

• Make sure to input accurate values for future cash, interest rate, and number of periods for correct results.
• Double-check the input values before calculating the payment amount.

Code Analysis

1. Convert the interest rate and number of periods to the appropriate units.
2. Calculate the payment per period using the provided formula.
3. Determine the total payment by multiplying the payment per period with the number of periods.

Technical Parameters

future_value, interest_rate, number_of_periods

Return Values

payment_per_period, total_payment

Example Expressions

You can use the following expressions to directly evaluate in a non-interactive manner using eval():

eval('invest(150000, 5.5, 10)')
eval('invest(50000, 7.2, 5)')

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