Operation Manual

Appendix B: Reference Information 382
The iteration used to compute i:
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)
where:
x
=
i
y
=
P/Y  C/Y
where:
k
= 0 for end-of-period payments
k
= 1 for beginning-of-period payments
0 PV PMT G
i
11i+
N–
–
i
------------------------------
FV 1 i+
N–
++=
I% 100 CY e
yx1+ln
1–=
G
i
1 ik+=
N
PMT G
i
FV i–
PMT G
i
PV i+
----------------------------------------------


ln
1 i+ln
----------------------------------------------------------
=
N
–
PV FV+PMT=
PMT
–
i
G
i
-----
PV
PV FV+
1 i+
N
1–
---------------------------
+=
PMT
–
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+=