Loan Repayment Schedule

The LOAN Procedure

Loan Repayment Schedule

In addition to the loan summary, you can print a loan repayment (amortization) schedule for each loan. For each payment period, this schedule contains the year and period within the year (or date, if the START= option is specified), the principal balance at the beginning of the period, the total payment, interest payment, principal repayment for the period, and the principal balance at the end of the period.

To print the first year of the amortization schedule for the fixed rate loan shown in Figure 13.5, use the following statements:

   proc loan start=1998:12;
      fixed amount=100000 rate=7.5 life=180
            schedule=1
            label='BANK1, Fixed Rate';
   run;

The LOAN Procedure

Loan Repayment Schedule BANK1, Fixed Rate
Date	Beginning Outstanding	Payment	Interest Payment	Principal Repayment	Ending Outstanding
DEC1998	100000.00	0.00	0.00	0.00	100000.00
DEC1998	100000.00	0.00	0.00	0.00	100000.00
JAN1999	100000.00	927.01	625.00	302.01	99697.99
FEB1999	99697.99	927.01	623.11	303.90	99394.09
MAR1999	99394.09	927.01	621.21	305.80	99088.29
APR1999	99088.29	927.01	619.30	307.71	98780.58
MAY1999	98780.58	927.01	617.38	309.63	98470.95
JUN1999	98470.95	927.01	615.44	311.57	98159.38
JUL1999	98159.38	927.01	613.50	313.51	97845.87
AUG1999	97845.87	927.01	611.54	315.47	97530.40
SEP1999	97530.40	927.01	609.57	317.44	97212.96
OCT1999	97212.96	927.01	607.58	319.43	96893.53
NOV1999	96893.53	927.01	605.58	321.43	96572.10
DEC1999	96572.10	927.01	603.58	323.43	96248.67
DEC1999	100000.00	11124.12	7372.79	3751.33	96248.67

Figure 13.5: Loan Repayment Schedule for the First Year

The principal balance at the end of one year is $96,248.67. The total payment for the year is $11,124.12 of which $3,751.33 went towards principal repayment.

You can also print the amortization schedule with annual summary information or for a specified number of years. The SCHEDULE=YEARLY option produces an annual summary loan amortization schedule, which is useful for loans with long life. For example, to print the annual summary loan repayment schedule for the buydown loan shown in Figure 13.6, use the following statements:

   proc loan start=1998:12;
      buydown amount=100000 rate=6.5 life=180
              buydownrates=(24=8 48=9) pointpct=1
              schedule=yearly
              label='BANK4, Buydown';
   run;

The LOAN Procedure

Loan Repayment Schedule BANK4, Buydown
Year	Beginning Outstanding	Payment	Interest Payment	Principal Repayment	Ending Outstanding
1998	100000.00	1000.00	0.00	0.00	100000.00
1999	100000.00	10453.32	6380.07	4073.25	95926.75
2000	95926.75	10528.71	6222.21	4306.50	91620.25
2001	91620.25	11358.00	7178.57	4179.43	87440.82
2002	87440.82	11403.51	6901.12	4502.39	82938.43
2003	82938.43	11904.12	7276.64	4627.48	78310.95
2004	78310.95	11904.12	6842.58	5061.54	73249.41
2005	73249.41	11904.12	6367.76	5536.36	67713.05
2006	67713.05	11904.12	5848.43	6055.69	61657.36
2007	61657.36	11904.12	5280.35	6623.77	55033.59
2008	55033.59	11904.12	4659.00	7245.12	47788.47
2009	47788.47	11904.12	3979.34	7924.78	39863.69
2010	39863.69	11904.12	3235.96	8668.16	31195.53
2011	31195.53	11904.12	2422.83	9481.29	21714.24
2012	21714.24	11904.12	1533.41	10370.71	11343.53
2013	11343.53	11904.09	560.56	11343.53	0.00

Figure 13.6: Annual Summary Loan Repayment Schedule

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