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 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:

- 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.