Overview
The standard fixed instrument, a bond, pays only interest each period until the maturity, at which point, it pays both interest and the entire principal. This is called a bullet bond.Calculating Bullet Payments
Bullet : a bullet bond pays fixed interest payments on each pay date, and pays back the full principal on the last pay date. Interest is quoted as an annual rate. Each payment is the
let pd = await import('/code/pay-dates/v1.0.0/pay-dates.mjs');
let principal = 100;
let rate = 0.1;
let period = 2;
let dates = pd.dates('2000-01-15', 12, period, true);
let payments = dates.map(p=>({
date:p,
"pay-date":pd.dateRoll(p, 'following', pd.days.weekdays),
payment:principal*rate/period
}));
Using the Payments API
Payments Library
let pm = await import('/code/payments/v1.0.0/payments.mjs');
let principal = 100;
let rate = 0.1;
let period = 2;
let payments = pm.bullet('2000-01-15', principal, rate, period);