hirondelle.formula.function.builtin
Class LoanPayment

Object
  hirondelle.formula.function.builtin.LoanPayment

All Implemented Interfaces:

Function

public final class LoanPayment
extends Object
implements Function

pmt(principal,interest,months): monthly payment needed to pay back a loan or mortgage.

Constructor Summary

LoanPayment()

Method Summary

Decimal

calculate(Decimal... aArgs) Monthly payment.

Methods inherited from class Object

clone, equals, finalize, getClass, hashCode, notify, notifyAll, toString, wait, wait, wait

Constructor Detail

LoanPayment

public LoanPayment()

Method Detail

calculate

public Decimal calculate(Decimal... aArgs)

Monthly payment. No rounding of the result is performed.

This method takes 3 parameters, in this order:

• principal, > 0
• annual interest rate, > 0
• number of monthly payments, integer > 0

Example: this loan of 100 has an annual interest rate of 5%, and is paid back over 2 years (24 months):

• principal = 100
• interest rate = 0.05 (that is, 5%)
• number of monthly payments = 24

Then

pmt(100, 0.05, 24) = 4.38713897340684378120

Specified by:

calculate in interface Function

Parameters:

aArgs - 0 or more arguments to the function.