FV
–
PV PMT N
×
+
(
)
=
I
m
RND RND
12 –
i bal m
1
–
(
)
×
(
)
[
]
=
bal m
( )
bal m
1
–
(
)
I
m
–
RND PMT
(
)
+
=
⎩
⎨
⎧
bal
( )
bal pmt
2
(
)
=
Σ
Pr
n
( )
bal pmt
2
(
)
bal pmt
1
(
)
–
=
Σ
Int
( )
pmt
2
pmt
1
–
1
+
(
)
RND PMT
(
)
×
Σ
Pr
n
( )
–
=
npv
( )
CF
0
CF
j
1
i
+
(
)
-
S
j
1
–
1
1
i
+
(
)
-
n
j
–
(
)
i
-----------------------------------
j
1
=
N
∑
+
=
Appendix B: Reference Information
389
where:
i
ƒ
0
where:
i
=
0
Amortization
If computing
bal
(),
pmt2
=
npmt
Let
bal
(
0
) =
RND
(
PV
)
Iterate from
m
=
1
to
pmt2
then:
Balance, principal, and interest are dependent on the values of
PMT
,
PV
,
æ
, and
pmt
1
and
pmt
2
.
Cash Flow
where:
S
j
n
i
i
1
=
j
∑
j
1
≥
0
j
0
=
⎩
⎪
⎪
⎨
⎪
⎪
⎧
=
Net present value is dependent on the values of the initial cash flow (
CF
0
), subsequent cash flows
(
CFj
), frequency of each cash flow (
nj
), and the specified interest rate (
i
).
irr
() =
100
×
i
, where
i
satisfies
npv
() =
0
where:
RND
= round the display to the number of decimal
places selected
RND12
= round to
12
decimal places
