AMORLINC Function Explained
The AMORLINC Function in Microsoft Excel is used to calculate the linear depreciation of an asset for a specified period. It takes five arguments: cost, salvage, life, period, and month. The cost is the initial cost of the asset, the salvage is the value of the asset at the end of its life, the life is the number of periods over which the asset is being depreciated, the period is the period for which the depreciation is being calculated, and the month is the number of months in the first year. The function returns the depreciation amount for the specified period.
AMORLINC Function Syntax
AMORLINC(cost, date_purchased, first_period, salvage, period, rate, [basis])
- cost: The initial cost of the asset.
- date_purchased: The date the asset was purchased.
- first_period: The date of the first period.
- salvage: The value of the asset at the end of its useful life.
- period: The period for which you want to calculate the depreciation.
- rate: The rate of depreciation.
- basis: (Optional) The type of day count basis to use. The default value is 0 (or US (NASD) 30/360).