Documentation for package rsm.finance

Author : R. Scott McIntire

Version: 1.1

Overview:

Functions to compute loan financing. Loans are assumed to compound monthly.

Export Summary:

calc-num-payments    : Calculate the number of payments to make for a loan 
                       given the initial debt; the annual interest rate; 
                       and the monthly payment.

display-num-payments : Display the number of payments to make for a loan.
                       (uses calc-num-payments)


calc-monthly-payment   : Calculate the monthly payments for a loan 
                         given initial debt; years to pay; and the 
                         annual interest rate.

display-monthly-payment: Display the monthly payment for a loan.
                         (uses calc-monthly-payment)


calc-initial-debt    : Calculate the initial debt given: years to pay;
                       the annual interest rate; and the monthly payment.

display-initial-debt : Display the initial debt of a loan.
                       (uses calc-initial-debt)


calc-interest-rate   : Calculate the annual interest rate given: 
                       the years to pay; the annual interest rate; 
                       and the monthly payment.

display-interest-rate: Display the interest rate of a loan.
                       (uses calc-initial-debt)

non-solvable: A Condition that represents an inablity to solve 
              a financial problem. This may be because the problem
              is impossible, or that the solution is numerically unstable.

calc-initial-debt   (years-to-pay annual-interest-rate monthly-payment)

Calculates the initial debt that one can pay off in <years-to-pay> years at a
monthly payment rate of <monthly-payment> with an annual interest rate of
<annual-interest-rate>. Compounding is assumed to occur monthly.

calc-interest-rate   (initial-debt monthly-payment years)

Calculates the interest rate at which an initial debt of <initial-debt> will
be paid off in <years> years with monthly payment, <monthly-payment>.
Compounding is assumed to occur monthly.

calc-monthly-payment   (debt years-to-pay annual-interest-rate)

Calculates the monthly payment that one needs in order to pay off a debt of
<debt> in <years-to-pay> years at an interest rate of <annual-interest-rate>.
Compounding is assumed to occur monthly.

calc-num-payments   (initial-debt annual-interest-rate monthly-payment)

Calculates the number of payments to pay off an initial debt with 
a given annual interest rate and monthly payment. The debt is assumed 
to compound monthly. Returns a multiple value: The number of payments; 
the number of whole years this represents; the number of months after the 
number of whole years; the total pay-out; and the last payment.

display-initial-debt   (years-to-pay annual-interest-rate monthly-payment)

Displays the initial debt that one can pay off in <years-to-pay> years at a
monthly payment rate of <monthly-payment> with an annual interest rate of
<annual-interest-rate>. Compounding is assumed to occur monthly.

display-interest-rate   (initial-debt monthly-payment years)

Displays the interest rate at which an initial debt of <initial-debt> will be
paid off in <years> years with monthly payment, <monthly-payment>.
Compounding is assumed to occur monthly.

display-monthly-payment   (debt years-to-pay annual-interest-rate)

Displays the monthly payment that one needs in order to pay off a debt of
<debt> in <years-to-pay> years at an interest rate of <annual-interest-rate>.
Compounding is assumed to occur monthly.

display-num-payments   (initial-debt annual-interest-rate monthly-payment)

Displays the number of payments to pay off an initial debt with a given
annual interest rate and monthly payment. The debt is assumed to compound
monthly.