User Manual

P
b
=
ρ
n
P
0
n!
1 -
ρ
n
L
q
=
ρP
b
n - ρ
L = L
q
+ ρ, T = L / λ, T
q
=
L
q
λ
P(t) = P
b
e
-(n
µ
-
λ
)t
Graduated Payment Mortgage
PV = PMT
1
1 -
(1 + I)
-
A
I
(1 + Q)
B
-
1
Q
+
(1 + C)
B
1 -
(1 + I)
-
(n - AB)
I
(1 + I)
AB
where:
Q =
1 + C
(1 + I)
A
- 1
A = number of payments per year
B = number of years that payments increase
C = percentage increase in periodic payments (as a decimal)
PMT
1
= amount of the first payment