Modern Finance PaymentFrequency

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PaymentFrequency

Lists how often payments are made, including weekly and accelerated biweekly.

Syntax

PAY_MONTHLY  PAY_BIWEEKLY  PAY_ACCELERATED_BIWEEKLY  ...

Examples

#import "std/money"
using money

'' How often a PAYMENT is made -- a separate question from how often
'' interest compounds, which is what lets one code path serve both the
'' US and Canadian mortgage conventions.
print PAY_MONTHLY                        '' 12
print PAY_WEEKLY                         '' 52

'' THE ACCELERATED FORMS ARE NEGATIVE ON PURPOSE.  They are not a rate
'' conversion: an accelerated-biweekly payment is the MONTHLY payment
'' divided by two, posted 26 times a year, which retires the loan early.
'' A negative value forces every SELECT CASE to handle them.
dim as boolean isAccelerated = ( PAY_ACCELERATED_BIWEEKLY < 0 )
print isAccelerated                      '' true

---

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