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=1992:12;
      fixed amount=100000 rate=13 life=180
            label='BANK1, Fixed Rate'
            schedule=1;
   run;

The LOAN Procedure

Loan Repayment Schedule BANK1, Fixed Rate
Date	Beginning Outstanding	Payment	Interest Payment	Principal Repayment	Ending Outstanding
DEC1992	100000.00	0.00	0.00	0.00	100000.00
DEC1992	100000.00	0.00	0.00	0.00	100000.00
JAN1993	100000.00	1265.24	1083.33	181.91	99818.09
FEB1993	99818.09	1265.24	1081.36	183.88	99634.21
MAR1993	99634.21	1265.24	1079.37	185.87	99448.34
APR1993	99448.34	1265.24	1077.36	187.88	99260.46
MAY1993	99260.46	1265.24	1075.32	189.92	99070.54
JUN1993	99070.54	1265.24	1073.26	191.98	98878.56
JUL1993	98878.56	1265.24	1071.18	194.06	98684.50
AUG1993	98684.50	1265.24	1069.08	196.16	98488.34
SEP1993	98488.34	1265.24	1066.96	198.28	98290.06
OCT1993	98290.06	1265.24	1064.81	200.43	98089.63
NOV1993	98089.63	1265.24	1062.64	202.60	97887.03
DEC1993	97887.03	1265.24	1060.44	204.80	97682.23
DEC1993	100000.00	15182.88	12865.11	2317.77	97682.23

Figure 13.5: Loan Repayment Schedule for the First Year

The principal balance at the end of one year is $97,682.23. The total payment for the year is $15,182.88 of which $2317.77 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=1992:12;
      buydown amount=100000 rate=12 life=180
              buydownrates=(24=14 48=16) 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
1992	100000.00	1000.00	0.00	0.00	100000.00
1993	100000.00	14402.04	11863.39	2538.65	97461.35
1994	97461.35	14522.18	11699.51	2822.67	94638.68
1995	94638.68	15843.72	13076.31	2767.41	91871.27
1996	91871.27	15955.74	12811.27	3144.47	88726.80
1997	88726.80	17187.96	13966.84	3221.12	85505.68
1998	85505.68	17187.96	13411.96	3776.00	81729.68
1999	81729.68	17187.96	12761.44	4426.52	77303.16
2000	77303.16	17187.96	11998.90	5189.06	72114.10
2001	72114.10	17187.96	11104.96	6083.00	66031.10
2002	66031.10	17187.96	10057.05	7130.91	58900.19
2003	58900.19	17187.96	8828.61	8359.35	50540.84
2004	50540.84	17187.96	7388.53	9799.43	40741.41
2005	40741.41	17187.96	5700.35	11487.61	29253.80
2006	29253.80	17187.96	3721.38	13466.58	15787.22
2007	15787.22	17188.72	1401.50	15787.22	0.00

Figure 13.6: Annual Summary Loan Repayment Schedule

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