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FinRedemption (Function) In french: FinAmortissement 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.
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