TVM Amortization Rounds to Cents (or other)

04032021, 09:36 PM
Post: #3




RE: TVM Amortization Rounds to Cents (or other)
(04032021 08:44 PM)Rick314 Wrote: But with cents display, you end up with a BALance of $3.00, which is correct if you made actual monthly payments to cents resolution for 30 years. I made an Excel spreadsheet with 360 rows to prove to myself this is what is going on. Yes. I tried calculated it (in cents, so to avoid binary/decimal conversion errors) I used rint(), i.e. bankers rounding. lua> n=360; r=7.75/1200; pv=18e6; pmt=128954  whole cents lua> k = (1+r)^n  compounding factor lua> rint(pv*k + pmt*(k1)/r)  calculated balance, in cents 289 Now, actually round the balance, for each period lua> for i=1,n do pv = pv + rint(pv*r) + pmt end lua> pv  actual balance, in cents 300 

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Messages In This Thread 
TVM Amortization Rounds to Cents (or other)  Rick314  04032021, 08:44 PM
RE: TVM Amortization Rounds to Cents (or other)  Dave Britten  04032021, 09:03 PM
RE: TVM Amortization Rounds to Cents (or other)  Albert Chan  04032021 09:36 PM

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