Modern Finance LoanBalanceAt

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LoanBalanceAt

Returns the balance after a period from a formula, without walking the schedule.

Syntax

LoanBalanceAt( loanTerms, period )

Examples

#import "std/money"
using money

'' The closed form, O(1) -- it does NOT walk, so it does not include
'' per-payment rounding drift.  Use it for a chart with a thousand
'' points; use LoanRowAt for anything a ledger will post.
dim as LoanTerms t = LoanTermsUsMortgage( DecimalParse( "400000" ).Value( ), _
                                          DecimalParse( "0.0595" ).Value( ), 30 )

print LoanBalanceAt( t, 0 ).Value( ).ToString( )         '' 400000
print LoanBalanceAt( t, 180 ).Value( ).ToStringFixed( 2 )  '' 283580.06

'' THE SCHEDULE IS AUTHORITATIVE where the two disagree; they agree to
'' within the rounding unit times the period number.
print LoanRowAt( t, 180 ).Value( ).ClosingBalance_.ToStringFixed( 2 )   '' 283580.13

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Library: Finance
Category: Finance
Documented under: Nothing Becomes A Keyword
Source: pkg/std/money/finloan.tiko in the tiko repository.