Question

Financial Functions

  • 16 November 2022
  • 1 reply
  • 21 views

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Hey Team,

I am working on an Existing Fixed Rate Loan walk-forward build. In the source system, the original fixed monthly payment is calculated by the following: 

 

IF
    Loan Term <> 0
THEN
    PMT(Interest Rate Origination Period / 12, ABS(Loan Term), ABS(LoanAcquisitionActualUPBAmt), 0, 0)
ELSE
    PMT(Interest Rate Origination Period / 12, Loan Term Final, ABS(LoanAcquisitionActualUPBAmt), 0, 0)


Does Pigment have an equivalent function to calculate PMT? (Calculates the monthly amount required to pay back a loan given each payment is equal)

 

Please advise - Thanks!


1 reply

Userlevel 5
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Hi Dominick,

This question has actually been asked in the past! It’s currently under review though @Nathan has found a workaround formula if you want it now.

 

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