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Appendix B: Reference Information 638
Amortization
AmortizationAmortization
Amortization
If computing
bal(), pmt2 = npmt
Let bal(0) = RND(PV)
Iterate from
m = 1 to pmt2
then:
Balance, principal, and interest are dependent on the values of
PMT, PV, æ, and pmt1 and
pmt2.
where:
RND
= round the display to the number of decimal
places selected
RND12
= round to 12 decimal places
I
m
RND RND12
–
i bal m 1–()×()[]=
bal m() bal m 1–()I
m
– RND PMT()+=
⎩
⎨
⎧
bal( ) bal pmt2()=
ΣPrn( ) bal pmt2()bal pmt1()–=
ΣInt( ) pmt2 pmt1–1+()RND PMT()×ΣPrn( )–=