def pmt(self):
"""
Calculate the loan payment for the loan. Called from the __init__().
Args:
self.rate: periodic interest rate (i.e. interest rate / period)
self.periods*(self.term+1): total number of compounding periods
self.present_value: the loan amount
Returns:
self.payment: amount of each payment (float)
"""
self.payment = Amortizer.pmt(self.rate, self.periods*(self.term+1), self.present_value)
def makePayment(self):
"""
Make a payment: reduces the outstanding balance of a loan by 1 payment
Args:
self
Returns:
self.outstanding -= self.payment
"""
print 'Total Payment: ', self.payment
print 'Interest Part: %s\nPrincipal Part: %s' %\
Amortizer.breakdown(self.outstanding,self.payment, self.rate)
self.outstanding -= self.payment
print 'Principal Outstanding: ', self.outstanding, '\n'
def __init__(self, amount, interest_rate, term, nper=12):
"""
Create a new Loan.
Args:
amount: loan amount
interest_rate: nominal interest rate as 'stated' without full effect of compounding (e.g. 10% would be 0.1)
term: term in years
nper: compounding frequency will default to 12 (i.e. compounding once per month)
"""
self.periods = nper
self.amount = self.present_value = self.outstanding = amount
self.term = term
self.interest_rate = interest_rate
self.rate = Amortizer.rate(interest_rate, self.periods)
self.pmt()
