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XLeratorDB/financial Documentation

SQL Server total interest function for odod-first period loans


TOTALINT
 
Updated: 31 October 2010


Use TOTALINT to calculate the total interest on a loan or lease.
Syntax
SELECT [westclintech].[wct].[TOTALINT] (
  <@Nper, float,>
 ,<@Pmt, float,>
 ,<@PV, float,>
 ,<@FV, float,>)
Arguments
@Nper
The number of periods in the loan or lease. @Nper is an expression of type float or of a type that can be implicitly converted to float.
@Pmt
The payment amount of the loan or lease. @Pmt is an expression of type float or of a type that can be implicitly converted to float.
@PV
The amount of the loan or lease. @PV is an expression of type float or of a type that can be implicitly converted to float.
@FV
The residual amount of the loan or lease. @FV is an expression of type float or of a type that can implicitly be converted to float.
Return Type
float
Remarks
·         @Nper must greater than 1
·         TOTALINT expects, but does not require, that @PV, @FV, and @PMT all have the same sign.
Example
Calculate the total interest on a $3,000 loan with 15 monthly payments of $215.
SELECT wct.TOTALINT(
       15         --Number of payments
      ,215        --Monthly payment
      ,3000       --Amount of the loan
      ,0          --residual value 
      ) as TOTALINT
This returns the following result.
              TOTALINT
----------------------
                   225
 
(1 row(s) affected)
 
Calculate the total interest on a $30,000 loan with a $5,000 balloon payment at the end of 48 periods and a payment amount $595.02
 
SELECT wct.TOTALINT(
       48               --Number of payments
      ,595.02           --Monthly payment
      ,30000            --Amount of the loan
      ,5000             --residual value 
      ) as TOTALINT
This produces the following result.
              TOTALINT
----------------------
               3560.96
 

(1 row(s) affected)



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