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 17.5, use the following statements:

```proc loan start=1998:12;
fixed amount=100000 rate=7.5 life=180
schedule=1
label='BANK1, Fixed Rate';
run;
```

Figure 17.5 Loan Repayment Schedule for the First Year
The LOAN Procedure

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 17.6, use the following statements:

```proc loan start=1998:12;
schedule=yearly
run;
```

Figure 17.6 Annual Summary Loan Repayment Schedule
The LOAN Procedure

Loan Repayment Schedule

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