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160 Appendix A: Tables and Reference Information
where: i ƒ 0
where: i=0
where: i ƒ 0
where: i=0
where: i ƒ 0
where: i=0
where: i ƒ 0
where: i = 0
Amortization
If computing bal(), pmt2 = npmt
Let bal(0) = RND(PV)
Iterate from m = 1 to pmt2
N
–
PV FV+()PMT÷=
PMT
–
i
G
i
-----
PV
PV FV+
1 i+()
N
1–
----------------------------+×=
P
MT
–
PV FV+()
N
÷=
PV
PMT G
i
×
i
------------------------ FV–
1
1 i+()
N
-------------------
PMT G
i
×
i
------------------------–×=
PV
–
FV PMT N×+()=
FV
PMT G
i
×
i
------------------------ 1 i+()
N
– PV
PMT G
i
×
i
------------------------+
×=
FV
–
PV PMT N×+()=
I
m
RND RND12
–
ibalm1–()×()[]=
bal m() bal m 1–()I
m
– RND PMT()+=