COBOL Manual for TNS and TNS/R Programs

Intrinsic Functions

HP COBOL Manual for TNS and TNS/R Programs—522555-006

14-9

ANNUITY Function

ANNUITY, a numeric function, returns a value that approximates the ratio of an annuity

paid at the end of each period for a specified number of periods at a specified interest

rate to an initial investment of one. Interest is applied at the end of the period, before

the payment (annuity immediate).

interest-rate

is a numeric argument whose value is greater than or equal to zero.

number-of-periods

is a positive integer.

When the value of interest-rate is zero, the returned value is approximately:

When the value of interest-rate is not zero, the returned value is approximately:

Note. This function requires the CRE. To use this function in a TNS HP COBOL program,

compile the program with the directive ENV COMMON.

( )

ANNUITYFUNCTION

interest-rate number-of-periods

VST422.vsd

number-of-periods

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interest-rate

interest-rate+ )

number-of-periods–

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