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

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: