ANNUITY function

The ANNUITY function (annuity immediate) returns a numeric value that approximates the ratio of an annuity paid at the end of each period for the number of periods specified by argument-2 to an initial investment of one. Interest is earned at the rate specified by argument-1 and is applied at the end of the period, before the payment.

Format.

          FUNCTION ANNUITY ( argument-1 argument-2 )