Extend Scheduling.fs to support balloon and bullet repayment structures — a final lump-sum payment that is larger than the regular instalments.
Use cases:
- PCP (Personal Contract Purchase): The Guaranteed Future Value (GFV) is the optional final payment after a series of lower monthly payments based on the vehicle's depreciation.
- HP (Hire Purchase) with optional purchase payment: A nominal final payment to transfer title.
- Interest-only mortgages: Full capital repayment at term end.
- Bullet loans: Zero amortisation; full principal repayable at maturity.
Proposed additions:
- A
balloonAmount parameter on the schedule (optional, defaulting to zero for fully amortising products).
- Correct APR calculation incorporating the balloon as a final cashflow.
- A
pcp convenience constructor that derives monthly payments from principal, GFV, rate, and term.
Extend
Scheduling.fsto support balloon and bullet repayment structures — a final lump-sum payment that is larger than the regular instalments.Use cases:
Proposed additions:
balloonAmountparameter on the schedule (optional, defaulting to zero for fully amortising products).pcpconvenience constructor that derives monthly payments from principal, GFV, rate, and term.