The BALLOON statement specifies a fixed rate
loan with scheduled balloon payments in addition to the periodic payment.
In addition to the required specifications and options listed
under the FIXED statement, the following option is used in the BALLOON
- BALLOON options;
- BALLOONPAYMENT= ( date1=payment1 date2=payment2 ...)
- BALLOONPAYMENT= ( period1=payment1 period2=payment2 ...)
- specifies pairs of periods and amounts of balloon (lump sum) payments in
excess of the periodic payment during the life of the loan.
You can also specify the balloon periods as dates if you specify the
If you do not specify this option, the calculations are identical
to a loan specified in a FIXED statement. Balloon periods (or dates)
and the respective balloon payments must be in time sequence.
The BALLOONPAYMENT= option can be abbreviated BPAY=.
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