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 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 BeginningOutstanding Payment InterestPayment PrincipalRepayment EndingOutstanding 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;