Creates an amortization matrix for a fixed-rate loan over a defined period of time.

Versions 17 and later

This function is now available for iPhone/iPad applications.

New in version 17

This function is now available for iPhone/iPad applications.

This function is now available for iPhone/iPad applications.

Versions 18 and later

This function is now available in Windows Store apps mode.

New in version 18

This function is now available in Windows Store apps mode.

This function is now available in Windows Store apps mode.

Versions 21 and later

This function is now available in Universal Windows 10 App mode.

New in version 21

This function is now available in Universal Windows 10 App mode.

This function is now available in Universal Windows 10 App mode.

Versions 23 and later

This function is now available for Java applications.

This function is now available for Android applications.

This function is now available in Android widget mode.

New in version 23

This function is now available for Java applications.

This function is now available for Android applications.

This function is now available in Android widget mode.

This function is now available for Java applications.

This function is now available for Android applications.

This function is now available in Android widget mode.

Example

// 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)

False otherwise. To get more details on the error, use ErrorInfo with the errMessage constant.

<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 1

Year

Column 2

Balance to repay

Column 3

Advantage

Column 4

Amortization

Column 5

Yearly payment

<Type of amortization>: Constant

Indicates the type of amortization:

finConstantAnnualPayment

Constant yearly payment: Each year, the borrower pays the same amount to the lender, including principal and interests.

finConstantRedemption

Constant amortization: Each year, the value of the amortization is fixed; the other parameters are calculated accordingly.

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.

<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: