The LOAN Procedure
| BALLOON Statement |
The BALLOON statement specifies a fixed rate loan with scheduled balloon payments in addition to the periodic payment. The following option is used in the BALLOON statement, in addition to the required options listed under the FIXED statement:
- BALLOONPAYMENT=( date1=payment1 date2=payment2 ... )
- BALLOONPAYMENT=( period1=payment1 period2=payment2 ... )
- BPAY=( date1=payment1 date2=payment2 ... )
- BPAY=( period1=payment1 period2=payment2 ... )
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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 START= option. The dates are specified as SAS date literals. For example, BALLOONPAYMENT=( ’1MAR2011’D=1000 ) specifies a payment of 1000 in March of 2011.
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.