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The LOAN Procedure |

**COMPARE***options ;*

You can use the following options with the COMPARE statement. For more detailed information on loan comparison, see the section "Loan Comparison Details" later in this chapter.

**ALL**-
is equivalent to specifying the BREAKINTEREST, BREAKPAYMENT, PWOFCOST, and
TRUEINTEREST options. The loan comparison report includes
all the criteria. You need to specify the MARR= option
for present worth of cost calculation.
**AT=***( date1 date2 ...)***AT=***( period1 period2 ...)*- specifies the periods for loan comparison reports.
If you specify the START= option in the PROC LOAN statement, you can specify the AT=
option as a list of dates instead of periods.
The comparison periods do not need to be in time sequence.
If you do not specify the AT= option, the comparison period defaults to
the first LIFE= option specification. If you do not specify
the LIFE= option for any of the loans, the loan comparison period defaults to
the first calculated life.
**BREAKINTEREST**-
specifies breakeven analysis of the interest paid.
The loan comparison report includes the interest paid for each loan
through the specified comparison period (AT= option).

The BREAKINTEREST option can be abbreviated BI. **BREAKPAYMENT**-
specifies breakeven analysis of payment.
The periodic payment for each loan
is reported for every comparison
period specified in the AT=option.

The BREAKPAYMENT option can be abbreviated BP. **MARR=***rate*-
specifies the MARR (
**M**inimum**A**ttractive**R**ate of**R**eturn) in percent notation. MARR reflects the cost of capital or the opportunity cost of money. The MARR= option is used in calculating the present worth of cost. **PWOFCOST**-
calculates the present worth of cost (net present value of costs) for each loan
based on the cash flow through the specified comparison periods. The calculations
account for down payment, initialization costs and discount points, as well as the
payments and outstanding principal balance at the comparison period.
If you specify the TAXRATE= option, the present worth of
cost is based on after-tax cash flow. Otherwise, before-tax
present worth of cost is calculated. You need to specify the MARR= option
for present worth of cost calculations.

The PWOFCOST option can be abbreviated PWC. **TAXRATE=***rate*-
specifies income tax rate in percent notation for the after-tax
calculations of the true interest rate and present worth of cost for
those assets that qualify for tax deduction.
If you specify this option, the amount specified in the POINTS= option
and the interest paid on the loan are assumed to be tax-deductible.
Otherwise, it is assumed that the asset does not qualify for tax deductions,
and the cash flow is not adjusted for tax savings.

The TAXRATE= option can be abbreviated TAX=. **TRUEINTEREST**-
calculates the true interest rate (effective interest rate based on the cash flow of all
payments, initialization costs, discount points, and the outstanding principal balance
at the comparison period) for all the specified loans through each comparison period.
If you specify the TAXRATE= option, the true interest rate
is based on after-tax cash flow. Otherwise, the before-tax true
interest rate is calculated.

The TRUEINTEREST option can be abbreviated TI.

**NOCOMPRINT**-
suppresses the printing of the loan comparison report.
The NOCOMPRINT option is usually used when an OUTCOMP= data set
is created to store loan comparison information.

The NOCOMPRINT option can be abbreviated NOCP. **OUTCOMP=***SAS-data-set*-
writes the loan comparison report to an output data set.

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