Payment plan
Introduction
Use this lib to calculate payment plan, monthly cost and effective interest.
Install
or
Functions
Function |
Description |
getEffectiveInterest |
Calculate the effective interest rate for a loan |
getPaymentPlan |
Generate a payment plan for a loan |
getMonthlyCost |
Calculate the monthly cost for a specific term of a loan |
Inputs
getEffectiveInterest
Input |
Type |
Description |
Default Value |
loanAmount |
number |
Loan amount |
- |
terms |
number |
Total number of terms |
- |
interestRate |
number |
Annual nominal interest rate (as a decimal) |
- |
startFee |
number |
One-time start fee |
- |
termFee |
number |
Fee per term |
- |
type |
LoanTypes (optional) |
Loan type (ANNUITY or SERIAL) |
ANNUITY |
plan |
PaymentPlan (optional) |
Existing payment plan to use instead of generating one |
- |
getPaymentPlan
Input |
Type |
Description |
Default Value |
loanAmount |
number |
Loan amount |
- |
interestRate |
number |
Annual nominal interest rate (as a decimal) |
- |
terms |
number |
Total number of terms |
- |
gracePeriod |
number (optional) |
Number of grace period terms |
0 |
type |
LoanTypes (optional) |
Loan type (ANNUITY or SERIAL) |
ANNUITY |
startFee |
number (optional) |
One-time start fee |
0 |
termFee |
number (optional) |
Fee per term |
0 |
getMonthlyCost
Input |
Type |
Description |
Default Value |
loanAmount |
number |
Loan amount |
- |
terms |
number |
Total number of terms |
- |
interestRate |
number |
Annual nominal interest rate (as a decimal) |
- |
period |
number (optional) |
Number of terms per year |
12 |
index |
number (optional) |
Term index to calculate the monthly cost for |
0 |
gracePeriod |
number (optional) |
Number of grace period terms |
0 |
termFee |
number (optional) |
Fee per term |
0 |
type |
LoanTypes (optional) |
Loan type (ANNUITY or SERIAL) |
ANNUITY |
License
MIT License