Amortization
A-56 Tables and Reference Information
If computing bal( ), pmt2 = npmt
Let bal(0) = RND(PV)
Iterate from m = 1 to pmt2
I
RND RND
m
bal m
( )
bal m
then:
bal
( )
bal pmt
(
Pr n
( )
bal pmt
Int
( ) (
pmt
where:
RND = round the display to the number of
RND12 = round to 12 decimal places
Balance, principal, and interest are dependent on the
values of
,
PMT
PV
[
12
(
(
i bal m
(
1
)
I
RND PMT
m
) 2
(
2
)
bal pmt
(
2
pmt
1 1
)
decimal places selected
,
æ
, and pmt1 and pmt2.
1
))]
(
)
1
)
RND PMT
(
)
Pr
n
( )