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Stored procedures
Creates an amortization matrix for a fixed-rate loan over a defined period of time.
// Amortization matrix for an "In Fine" loan of $25000
// with a fixed interest rate of 5% over 6 years
ResAmortization = FinRedemption("AmortMatrix", finInFine, 25000, 5, 6)
Syntax
<Result> = FinRedemption(<Matrix name> , <Type of Amortization> [, <Capital> [, <Rate> [, <Duration>]]])
<Result>: Boolean
  • True if the amortization matrix was created,
  • False otherwise. To find out the name of the error, use the function ErrorInfo with the constant errMessage.
<Matrix name>:
Name of amortization matrix. This matrix is automatically created when calculating the amortization. This matrix contains 5 columns. Each column corresponds to a specific information:
Column 1Year
Column 2Balance to repay
Column 3Benefit
Column 4Amortization
Column 5Yearly payment
<Type of Amortization>: Constant
Indicates the type of amortization:
finInFine"In Fine" repayment: During the entire loan duration, the borrower only pays the interests, the principal being paid the last year of the loan.
finConstantRedemptionConstant amortization: Each year, the value of the amortization is fixed; the other parameters are calculated accordingly.
finConstantAnnualPaymentConstant yearly payment: Each year, the borrower pays the same amount to the lender, including principal and interests.
<Capital>: Optional real or currency
Total capital borrowed (0 by default).
<Rate>: Optional real
Interest rate of the loan, expressed in percentage (1 by default). For example, for a 5% rate, this parameter will be set to 5.
<Duration>: Optional real
Duration of the loan, expressed in years (1 by default).
Remarks
The existence of the amortization matrix is not checked. This matrix is overwritten if it existed beforehand. To check the matrix existence, use MatExist.
Then, the content of amortization matrix can be read by the following functions:
  • MatRead: Reads the value of a matrix element.
  • MatReadColumn: Reads the value of all the elements found in a matrix column.
  • MatReadLine: Reads the value of all elements found in a matrix row.
Component : wd260mat.dll
Minimum version required
  • Version 9
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