topic Re: EMI calculations with a Balloon Payment in SAS Programming

EMI calculations with a Balloon Payment

thepushkarsingh — Tue, 05 Mar 2019 17:37:57 GMT

I want to create/use a function which takes ballon payment in the end period to give EMIs. For example, a loan at 4% annually of 1000 for 12 months with a balloon payment of 100 at the end will have an EMI of 76.97. An equivalent to Excel formula = PMT(RATE,N,PV,[FV],[type]). There is an option in Excel of FV which doesn't seem to be in SAS function PMT.

Any help is deeply appreciated.

(P.S. - PROC LOAN is not an option as it takes too much time to calculate it for each row)

Re: EMI calculations with a Balloon Payment

ballardw — Tue, 05 Mar 2019 18:04:59 GMT

@thepushkarsingh wrote:

I want to create/use a function which takes ballon payment in the end period to give EMIs. For example, a loan at 4% annually of 1000 for 12 months with a balloon payment of 100 at the end will have an EMI of 76.97. An equivalent to Excel formula = PMT(RATE,N,PV,[FV],[type]). There is an option in Excel of FV which doesn't seem to be in SAS function PMT.

Any help is deeply appreciated.

(P.S. - PROC LOAN is not an option as it takes too much time to calculate it for each row)

The FINANCE functions PMT and PPMT both have FV as options.

FINANCE('PMT', rate, nper, pv, <fv>, <type>); 

FINANCE('PPMT', rate, period, nper, pv, <fv>, <type>);

Re: EMI calculations with a Balloon Payment

thepushkarsingh — Tue, 05 Mar 2019 18:10:17 GMT

Thank you very much! There's so much to know in SAS.