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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 16.5, use the following statements:
proc loan start=1998:12;
fixed amount=100000 rate=7.5 life=180
schedule=1
label='BANK1, Fixed Rate';
run;
| Loan Repayment Schedule BANK1, Fixed Rate |
|||||
|---|---|---|---|---|---|
| Date | Beginning Outstanding |
Payment | Interest Payment |
Principal Repayment |
Ending Outstanding |
| 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 |
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 toward 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 a long life. For example, to print the annual summary loan repayment schedule for the buydown loan shown in Figure 16.6, use the following statements:
proc loan start=1998:12;
buydown amount=100000 rate=6.5 life=180
buydownrates=(24=8 48=9) pointpct=1
schedule=yearly
label='BANK4, Buydown';
run;
| Loan Repayment Schedule BANK4, Buydown |
|||||
|---|---|---|---|---|---|
| Year | Beginning Outstanding |
Payment | Interest Payment |
Principal Repayment |
Ending Outstanding |
| 1998 | 100000.00 | 1000.00 | 0.00 | 0.00 | 100000.00 |
| 1999 | 100000.00 | 10453.32 | 6380.07 | 4073.25 | 95926.75 |
| 2000 | 95926.75 | 10528.71 | 6222.21 | 4306.50 | 91620.25 |
| 2001 | 91620.25 | 11358.00 | 7178.57 | 4179.43 | 87440.82 |
| 2002 | 87440.82 | 11403.51 | 6901.12 | 4502.39 | 82938.43 |
| 2003 | 82938.43 | 11904.12 | 7276.64 | 4627.48 | 78310.95 |
| 2004 | 78310.95 | 11904.12 | 6842.58 | 5061.54 | 73249.41 |
| 2005 | 73249.41 | 11904.12 | 6367.76 | 5536.36 | 67713.05 |
| 2006 | 67713.05 | 11904.12 | 5848.43 | 6055.69 | 61657.36 |
| 2007 | 61657.36 | 11904.12 | 5280.35 | 6623.77 | 55033.59 |
| 2008 | 55033.59 | 11904.12 | 4659.00 | 7245.12 | 47788.47 |
| 2009 | 47788.47 | 11904.12 | 3979.34 | 7924.78 | 39863.69 |
| 2010 | 39863.69 | 11904.12 | 3235.96 | 8668.16 | 31195.53 |
| 2011 | 31195.53 | 11904.12 | 2422.83 | 9481.29 | 21714.24 |
| 2012 | 21714.24 | 11904.12 | 1533.41 | 10370.71 | 11343.53 |
| 2013 | 11343.53 | 11904.09 | 560.56 | 11343.53 | 0.00 |
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