Hi,
I have to create a date step, meaning that I have a start date of a loan but there is also a "grace period" between these two no instalment is paid but the interest is calculated.
For example: There is a var rate loan amount of 10.000$. The compounding is happening two times per year (so far so good).The loan has a grace period of twenty four (24) months and after that, fourteen (14) equaly distributed installments.
So what needed is to set a zero value for the grace period and after that to add the installments once a year while the compounding is recalculated twice per year.
period installment interest
1 0 $$$
2 0 $$$
.
.
.
8 $$$ $$$
9 0 $$$
10 $$$ $$$
11 0 $$$
and so on
Any ideas on how to create the zero step?
Thanks
I have to create a date step, meaning that I have a start date of a loan but there is also a "grace period" between these two no instalment is paid but the interest is calculated.
For example: There is a var rate loan amount of 10.000$. The compounding is happening two times per year (so far so good).The loan has a grace period of twenty four (24) months and after that, fourteen (14) equaly distributed installments.
So what needed is to set a zero value for the grace period and after that to add the installments once a year while the compounding is recalculated twice per year.
period installment interest
1 0 $$$
2 0 $$$
.
.
.
8 $$$ $$$
9 0 $$$
10 $$$ $$$
11 0 $$$
and so on
Any ideas on how to create the zero step?
Thanks
