Definition. This function returns the amount of the annuity (regular payment) of a process that is part of an annuity calculation. For a repayment calculation, this is the annuity of a loan that is paid off though annuity repayment.
The finance mathematical benefit principle used in Excel,
Payment of the creditor + Payment of the debtor = 0
means that you need to differentiate between disbursements and deposits in regard to the leading sign (borrowing and repayment, investment and disinvestment).
Here Excel differs from the benefit principle used in finance mathematical literature.
Payment of the debtor = Payment of the creditor
Rate (required) The period interest rate. This is frequently an annual ...