Payment plan

Introduction

Use this lib to calculate payment plan, monthly cost and effective interest.

Install

``shell
npm install payment-plan
`
or
`shell
yarn add payment-plan
``

Functions

| Function | Description |
|-----------------------|---------------------------------------------------------------|
| getEffectiveInterest | Calculate the effective interest rate for a loan |
| getPaymentPlan | Generate a payment plan for a loan |
| getMonthlyCost | Calculate the monthly cost for a specific term of a loan |

Inputs

$3

| Input | Type | Description | Default Value |
|---------------|------------------------|---------------------------------------------------------|---------------|
| loanAmount | number | Loan amount | - |
| terms | number | Total number of terms | - |
| interestRate | number | Annual nominal interest rate (as a decimal) | - |
| startFee | number | One-time start fee | - |
| termFee | number | Fee per term | - |
| type | LoanTypes (optional) | Loan type (ANNUITY or SERIAL) | ANNUITY |
| plan | PaymentPlan (optional) | Existing payment plan to use instead of generating one | - |

$3

| Input | Type | Description | Default Value |
|---------------|------------------------|-----------------------------------------------|---------------|
| loanAmount | number | Loan amount | - |
| interestRate | number | Annual nominal interest rate (as a decimal) | - |
| terms | number | Total number of terms | - |
| gracePeriod | number (optional) | Number of grace period terms | 0 |
| type | LoanTypes (optional) | Loan type (ANNUITY or SERIAL) | ANNUITY |
| startFee | number (optional) | One-time start fee | 0 |
| termFee | number (optional) | Fee per term | 0 |

$3

| Input | Type | Description | Default Value |
|---------------|------------------------|---------------------------------------------------------|---------------|
| loanAmount | number | Loan amount | - |
| terms | number | Total number of terms | - |
| interestRate | number | Annual nominal interest rate (as a decimal) | - |
| period | number (optional) | Number of terms per year | 12 |
| index | number (optional) | Term index to calculate the monthly cost for | 0 |
| gracePeriod | number (optional) | Number of grace period terms | 0 |
| termFee | number (optional) | Fee per term | 0 |
| type | LoanTypes (optional) | Loan type (ANNUITY or SERIAL) | ANNUITY |

License

MIT License