The amortization command gives a sequence of two elements: an amortization table and the cost of the loan.

The amortization table consists of lists comprising of 5 elements

The cost of the loan is the sum of the third column.

The payments option can be a procedure. It will be called with two arguments: the period number and the interest to be paid. This can be used, for example, to have increasing payments, or to pay down a fixed amount of principal at each period.

The output option controls the display of the returned values. By default, a matrix of values is returned. This matrix can be returned as an embedded datatable component using the embed option. list returns the same matrix as a list, including also the value of the cost of interest. The cost of interest can be returned using the cost output option.

Refer to Finance[annuity] for more details on mortgages. Refer to Finance[effectiverate] for selecting the appropriate value for the interest rate to be used.

Since amortization used to be part of the (now deprecated) finance package, for compatibility with older worksheets, this command can also be called using finance[amortization]. However, it is recommended that you use the superseding package name, Finance instead: Finance[amortization].

$\mathrm{with}\left(\mathrm{Finance}\right)\:$

$\mathrm{amortization}\left(1000.00\,500.00\,0.10\right)$

$\mathrm{amortization}\left(1000.00\,500.00\,0.10\,\mathrm{output}=\mathrm{cost}\right)$

$176.0000000$

$\mathrm{amortization}\left(1000.00\,\left(i\,\mathrm{interest}\right)\mapsto 500.00+\mathrm{interest}\,0.10\,\mathrm{output}=\mathrm{list}\right)$

$\left[\left[0\,0\,0\,\mathrm{-1000.00}\,1000.00\right]\,\left[1\,600.0000\,100.0000\,500.0000\,500.0000\right]\,\left[2\,550.000000\,50.000000\,500.000000\,0.\right]\right],150.000000$

$\mathrm{compute\_payment}≔\left(i\,\mathrm{interest}\right)\mapsto 150.00+10.00\cdot \mathrm{trunc}\left(\frac{i}{4}-\frac{1}{4}\right)\:$

$\mathrm{amortization}\left(1000.00\,\mathrm{compute\_payment}\,\frac{\mathrm{effectiverate}\left(0.12\,4\right)}{4}\right)$

$\mathrm{amortization}\left(1000.00\,\mathrm{compute\_payment}\,\frac{\mathrm{effectiverate}\left(0.12\,4\right)}{4}\,\mathrm{nperiods}=4\right)$

$\mathrm{amortization}\left(1000.00\,\mathrm{compute\_payment}\,\frac{\mathrm{effectiverate}\left(0.12\,4\right)}{4}\,\mathrm{nperiods}=4\,\mathrm{output}=\mathrm{embed}\right)$

$''amortizationtable0''$

The Finance[amortization] command was introduced in Maple 15.

For more information on Maple 15 changes, see Updates in Maple 15.

The Finance[amortization] command was updated in Maple 2015.

The output parameter was introduced in Maple 2015.

For more information on Maple 2015 changes, see Updates in Maple 2015.