amortize (Financial Toolbox)

amortize
Amortization schedule

Syntax

[Principal, Interest, Balance, Payment] = amortize(Rate, NumPeriods, 
PresentValue, FutureValue, Due)

Arguments

Rate
Interest rate per period, as a decimal fraction.

NumPeriods
Number of payment periods.

PresentValue
Present value of the loan.

FutureValue
(Optional) Future value of the loan. Default = 0.

Due
(Optional) When payments are due: 0 = end of period (default), or 1 = beginning of period.

`Rate`	Interest rate per period, as a decimal fraction.
`NumPeriods`	Number of payment periods.
`PresentValue`	Present value of the loan.
`FutureValue`	(Optional) Future value of the loan. Default = 0.
`Due`	(Optional) When payments are due: 0 = end of period (default), or 1 = beginning of period.

Description
[Principal, Interest, Balance, Payment] = amortize(Rate, NumPeriods, PresentValue, FutureValue, Due) returns the principal and interest payments of a loan, the remaining balance of the original loan amount, and the periodic payment.


`Principal`	Principal paid in each period. A 1-by-`NumPeriods` vector.
`Interest`	Interest paid in each period. A 1-by-`NumPeriods` vector.
`Balance`	Remaining balance of the loan in each payment period. A 1-by-`NumPeriods` vector.
`Payment`	Payment per period. A scalar.

Examples
A $500 loan paid in six installments at an annual interest rate of 9%

[Principal, Interest, Balance, Payment] = amortize(0.09/6, 6,... 
500)

Principal =
   80.26   81.47   82.69   83.93   85.19   86.47

Interest =
    7.50    6.3    5.07    3.83    2.57    1.30

Balance =
  419.74  338.27  255.58  171.65   86.47   0.00
Payment =
   87.76

See Also
annurate, annuterm, payadv, payodd, payper

acrudisc annurate