Business Functions Library for Excel

    1. Introduction
      1. Introduction
      2. DYear
      3. DMonth
      4. DateYMD
      5. DateSeqNum
      6. IsSeqDate
      7. DayName
      8. MonthName
      9. IsLeap
      10. DaysInMonth
      11. IsAnniversary
      12. WeekNumber
      13. WeekNumberToDate
      14. MonthStart
      15. MonthEnd
      16. NumPers
      17. MostRecent
      18. MostImminent
      19. TimeBaseLengths
      20. AnnSeq
      21. CreateTimeBase
      1. Introduction
      2. DiffY
      3. DiffM
      4. DiffD
      5. DiffP
      1. Introduction
      2. DpY
      3. DpM
      4. DpD
      5. DpP
      6. PrevDateSeq
      7. NextDateSeq
      8. PrevDateList
      9. NextDateList
      10. NextDateCombine
      11. DatePer
      12. EDateBF
      13. DateSeq
      14. DateSeqCombine
      1. Introduction
      2. TpY
      3. TpM
      4. TpD
      5. Occurs
    1. Introduction
      1. Introduction
      2. DpYBD
      3. DpMBD
      4. DpDBD
      5. NextBD
      6. PrevBD
      7. NextDateSeqBD
      8. PrevDateSeqBD
      9. IsBD
      10. NetWorkDaysBF
      11. NextDateListBD
      12. PrevDateListBD
      1. Introduction
      2. Holiday
      3. DescribeHol
      4. WhatHol
      5. IsHol
      6. IsWE
      7. WesternEaster
      8. CreateDate
    1. Introduction
      1. Introduction
      2. MkPmtsSeq
      3. MkPmts
      4. MkPmtsGrow
      5. MkPmtsFcst
      6. MkPmtsSF
      7. MkPmtsLim
      8. MkPmtsLag
      9. MkPmtsLagProf
      10. RePhasePmts
      11. TotPmts
      12. TotPmtsSF
      13. SumBetween
      14. DoBetween
      15. MatchPmts
      16. CarryNeg
      17. CarryPos
      18. MkPmtsX
      19. MkPmtsLagX
      20. MkPmtsIdx
      21. MkPmtsCats
      22. MkPmtsGroup
      1. Introduction
      2. MkPmtsPer
      3. MkPmtsPerGrow
      4. MkPmtsPerFcst
      5. MkPmtsIdxPer
      1. Introduction
      2. MkPmtsGrowMkt
      3. MkPmtsFcstMkt
      4. MkPmtsPerGrowMkt
      5. MkPmtsPerFcstMkt
    1. Introduction
      1. Introduction
      2. GSpread
      3. UniSpread
      4. UniSpreadGrow
      5. SCurve
      6. SCurveGrow
      7. DistSpread
      8. FStepSpread
      9. TStepSpread
      10. MkPmtsWeighted
      11. SCumCurve
      1. Introduction
      2. UniSpreadPer
      3. SCurvePer
      4. SCurveGrowPer
      5. UniSpreadGrowPer
      1. Introduction
      2. WeightSpread
      3. FWeightSpread
      4. TWeightSpread
      1. Introduction
      2. UniSpreadH
      3. SCurveH
      4. WeightSpreadH
      5. FWeightSpreadH
      6. TWeightSpreadH
      7. DistSpreadH
      8. GSpreadH
      9. UniSpreadAdj
      10. SCurveAdj
      11. WeightSpreadAdj
      12. FWeightSpreadAdj
      13. TWeightSpreadAdj
      14. DistSpreadAdj
      15. GSpreadAdj
    1. Introduction
      1. Introduction
      2. Con
      3. ConGrow
      4. AnnGrow
      5. RePhaseCon
      6. AnnRate
      7. ConSF
      8. ConIdx
      9. ConEvent
      1. Introduction
      2. ConPer
      3. AnnGrowPer
      4. ConGrowPer
      1. Introduction
      2. ConGrowMkt
      3. ConFcstMkt
      4. ConFcstGrowMkt
      1. Introduction
      2. ConRevGrow2
      3. ConRev
      4. ConRevGrow
      5. ConRevFcst
    1. Introduction
      1. Introduction
      2. FStep
      3. FStepGrow
      4. FStepGrowX
      5. FStepThenGrow
      6. FStepFcst
      7. FStepGrown
      8. FStepSF
      9. FStepCombine
      10. MultiFStep
      1. Introduction
      2. TStep
      3. TStepGrow
      4. TStepGrowX
      5. TStepThenGrow
      6. TStepFcst
      7. TStepGrown
      8. TStepSF
      9. TStepCombine
      10. MultiTStep
      1. Introduction
      2. FStepGrowMkt
      3. FStepFcstMkt
      4. TStepGrowMkt
      5. TStepFcstMkt
      1. Introduction
      2. FStepRev
      3. TStepRev
      4. FStepRevGrow
      5. FStepRevFcst
      6. TStepRevGrow
      7. TStepRevFcst
      8. FStepThenGrowRev
      9. TStepThenGrowRev
    1. Introduction
      1. Introduction
      2. FittedRate
      3. Ramp
      1. Introduction
      2. InterpedLevel
      3. FittedLevel
    1. Introduction
      1. Introduction
      2. Bal
      3. Level
      4. FLevels
      5. TLevels
      6. FLevelsGrow
      7. TLevelsGrow
      8. FLevelsFcst
      9. TLevelsFcst
      10. FLevelsCombine
      11. FLevelsThenGrow
      12. TLevelsThenGrow
      1. Introduction
      2. FLevelsGrowMkt
      3. TLevelsGrowMkt
      4. FLevelsFcstMkt
      5. TLevelsFcstMkt
      1. Introduction
      2. Grow
      3. GrowFromTo
      4. FGrowStep
      5. TGrowStep
      6. FGrowStepMkt
      7. TGrowStepMkt
      8. GrowMkt
      9. GrowLin
      1. Introduction
      2. Fcst
      3. FcstGrow
      4. FcstCollar
      5. SumFcst
      6. FFcstStep
      7. TFcstStep
      8. IdxFromTo
      1. Introduction
      2. FcstT
      3. TFcstT
    1. Introduction
      1. Introduction
      2. ALevel
      3. FALevels
      4. TALevels
      5. FALevelsGrow
      6. TALevelsGrow
      7. FALevelsFcst
      8. TALevelsFcst
      9. FALevelsThenGrow
      10. TALevelsThenGrow
      11. ALevelGrow
      1. Introduction
      2. FALevelsGrowMkt
      3. TALevelsGrowMkt
      4. FALevelsFcstMkt
      5. TALevelsFcstMkt
      1. Introduction
      2. AGrow
    1. Introduction
      1. Introduction
      2. PVCon
      3. PVAnnGrow
      4. PVConGrow
      5. PVConQ
      1. Introduction
      2. PVTStep
      3. PVTStepQ
      4. PVTStepIC
      5. PVTStepICQ
      6. PVFStep
      7. PVFStepIC
      8. PVFStepQ
      9. PVFStepICQ
      1. Introduction
      2. PVMkPmtsSF
      3. PVMkPmts
      1. Introduction
      2. PVGSpread
      3. PVUniSpread
      4. PVSCurve
      5. PVSCurveGrow
      6. PVDistSpread
      7. PVFStepSpread
      8. PVTStepSpread
      9. PVMkPmtsWeighted
      10. PVSCumCurve
    1. Introduction
      1. Introduction
      2. SimpleToSimple
      3. SimpleToAER
      4. SimpleToCont
      5. SimpleToDF
      6. AERToSimple
      7. AERToCont
      8. AERToDF
      9. ContToSimple
      10. ContToAER
      11. ContToDF
      12. DFToSimple
      13. DFToAER
      14. DFToCont
      1. Introduction
      2. SimpleToSimpleX
      3. SimpleToAERX
      4. SimpleToContX
      5. SimpleToDFX
      6. AERToSimpleX
      7. ContToSimpleX
      8. DFToSimpleX
      9. RateConvert
      1. Introduction
      2. FVM
      3. PVM
      4. PmtM
      5. TermM
      6. IntRateM
      7. PVEGAnn
      8. PVEGAnnM
      9. PVEGPerAnn
      10. PVEGPerp
      11. PVEGPerpM
      12. PVEGPerPerp
      13. SumEGAnn
      14. SumEGAnnM
      15. SumEGAnnCont
      16. SumLGAnn
      17. SumLGAnnM
      18. SumLGAnnCont
      1. Introduction
      2. PVBF
      3. PMTBF
      4. RateBF
      1. Introduction
      2. APRToQuoted
      3. QuotedToAPR
    1. Introduction
      1. Introduction
      2. PVOne
      3. FPVOne
      4. TPVOne
      5. PVOneQ
      1. Introduction
      2. PVA
      3. IRRA
      4. PayBackA
      5. PayBackDiscA
      6. DurationA
      7. AvLifeA
      1. Introduction
      2. PVE
      3. IRRE
      4. PaybackE
      5. PayBackDiscE
      6. DurationE
      7. AvLifeE
      1. Introduction
      2. PVT
      3. IRRT
      4. PayBackT
      5. PayBackDiscT
      6. DurationT
      7. AvLifeT
      8. PVTIC
      9. IRRTIC
      10. PVTX
      11. IRRTX
      12. PVTCX
      13. IRRTCX
      14. PVTR
      15. IRRTR
      1. Introduction
      2. NPVM
      3. IRRM
      4. CorrectionM
      5. CorrectionCont
      6. CorrectionDC
      7. DurationM
      8. AvLifeM
      9. EffTimeM
    1. Introduction
      1. Introduction
      2. Depreciate
      3. DepreciatedValue
      4. DepPoolWIP
      5. DepPoolRatio
      6. DepPool
      7. DepreciatePer
      8. DepreciateGrowPer
      9. DepreciateFcstPer
      10. DepreciateIdxPer
      11. LIFOPrice
      12. LIFOCalc
      1. Introduction
      2. FAvRate
      3. TAvRate
      4. FAvRateTD
      5. TAvRateTD
    1. Introduction
      1. Introduction
      2. LinReg
      3. BestPoly
      4. SignChanges
      5. RSqrdPoly
      6. PolyEqn
      7. CalcPoly
      8. PolyReg
    1. Introduction
      1. Introduction
      2. LookupNum
      3. LookupN
      4. SeekNum
      5. PickNum
      6. SortPick
      7. LookUpNum2D
      8. PickMatrix
      9. LookupNIndex
      10. Seek
      11. SeekList
      12. SortNum
      13. FindIf
      1. Introduction
      2. DoBetweenX
      3. SumCat
      4. SumCats
      5. SumPos
      6. SumNeg
      7. SumDiv
      8. SumBounds
      9. SumSubRange
      10. SumCombine
      11. SelCats
      1. Introduction
      2. Coordinates
      3. WorkSheetName
      4. RefPlus
      5. GetRef
      1. Introduction
      2. MinBetween
      3. MaxBetween
      4. MeanNZ
      5. WeightAv
      1. Introduction
      2. RangeDir
      1. Introduction
      2. SortText
      3. ApplyToList
      4. CombineLists
      5. TransposeNum
      6. Unique
      1. Introduction
      2. Interp
      3. Interpolate
      4. InterpDate
      5. InterpolateDate
      6. Intersection
    1. Introduction
      1. Introduction
      2. Distribution
      3. PartialDependency
      4. DistCumulative
      5. DistUniform
      6. DistTriangular
      7. DistDoubleTri
      8. DistNormal
      9. DistLogNormal
      10. RandNum
      11. NRandom
      12. PickRandom
      13. DescribeDistType
      14. CumProb
    1. Introduction
      1. Introduction
      2. RentGrow
      3. RentFcst
      1. Introduction
      2. FStepRent
      3. FStepRentGrow
      4. FStepRentFcst
      5. FStepRentFcstCollar
      1. Introduction
      2. TStepRent
      3. TStepRentGrow
      4. TStepRentFcst
      5. TStepRentGrowCollar
      6. TStepRentFcstCollar
      1. Introduction
      2. RentFcstR
      3. RentGrowR
      4. FStepRentGrowR
      5. FStepRentFcstR
      6. TStepRentGrowR
      7. TStepRentFcstR
      8. TStepRentGrowSFR
      9. FStepRentGrowSFR
      10. TStepRentFcstSFR
      11. FStepRentFcstSFR
      1. Introduction
      2. CapValue
      3. EqYield
      4. CapValueG
      5. EqYieldG
      6. CapValueGD
      7. EqYieldGD
      8. NomToTrue
      9. TrueToNom
      10. YPP
      11. YPPDef
      12. YPA
      13. YPADef
      14. CapValueGrowGD
      15. CapValueFcstGD
      16. EqYieldGrowGD
      17. EqYieldFcstGD
      1. Introduction
      2. CapValueDCF
      3. EqYieldDCF
      4. CapValueDCFG
      5. EqYieldDCFG
      6. CapValueDCFGD
      7. EqYieldDCFGD
      8. NomToTrueDCF
      9. TrueToNomDCF
      10. YPADefDCF
      11. YPPDefDCF
      12. TheorYield
      13. ImpGrowth
      14. ImpDiscRate
      15. PVRent
      16. TWRR
      1. Introduction
      2. PVRentGrow
      3. PVRentFcst
      4. PVTStepRent
      5. PVTStepRentGrow
      6. PVTStepRentFcst
      7. PVTStepRentGrowR
      8. PVTStepRentFcstR
      9. PVTStepRentGrowIC
      10. PVTStepRentGrowRIC
      11. PVTStepIdxRentGrowR
      12. PVTStepIdxRentFcstR
      1. Introduction
      2. TStepGTurnRentGrow
      3. TStepGTurnRentGrowR
      1. Introduction
      2. IdxRentGrowR
      3. IdxRentFcstR
      4. IdxRentGrowMktR
      5. IdxRentFcstMktR
      6. TStepIdxRentGrowR
      7. TStepIdxRentFcstR
      1. Introduction
      2. LetCostR
      3. LetCostRQ
      4. LeasingFeeGrowR
      5. FServChargeR
      6. ServChargeGrowR
      7. ServChargeFcstR
      8. FServChargeGrowR
      9. FVacServChargeR
      10. VacServChargeGrowR
      11. VacServChargeFcstR
      12. LeasingFeeFcstR
      1. Introduction
      2. UKRatesGrow
      3. UKRatesFcst
      4. UKRatesGrowR
      5. UKRatesFcstR
      6. UKEmptyRatesFcstR
      7. UKEmptyRatesGrowR
      1. Introduction
      2. LeaseEnd
      3. ReletOccurs
      4. RentDateInfo
      5. RentEventOccurs
      6. RentEvent
      7. LastReview
      8. NextReview
      9. LastReviewR
      10. NextReviewR
      11. LeaseInfo
      12. Occupancy
      13. LeaseDates
    1. Introduction
      1. Introduction
      2. Interest
      3. FInterest
      4. TInterest
      5. TotInterestSF
      6. InterestX
      7. PVFInterest
      8. PVInterestX
      9. PVInterest
      1. Introduction
      2. ZeroCoupon
      3. FutureToSpot
      4. SpotToSpot
      1. Introduction
      2. Loan
      3. LoanX
      4. LoanLin
      5. LoanLinX
      6. Mortgage
      7. MortgageQ
      8. LoanPool
      9. MortgagePool
      10. IdxBondGrow
      11. IdxBondFcst
      1. Introduction
      2. Overdraft
      3. CashAcct
      4. FlexAcct
      5. CurrentAcct
      6. STDAcct
      7. LoanAcct
      8. LoanAcctEM
      1. Introduction
      2. BetaIndex
      3. BetaReturns
      4. DescribeReturn
      5. TotalReturn
      1. Introduction
      2. OptionBS
      3. OptionBinom
      4. OptionMonte
    1. Introduction
      1. Introduction
      2. STOIIP
      1. Introduction
      2. Decline
      3. DeclineRate
      4. DescribeDecline
      5. ProdProf
      6. AbandonDate
      7. StartDecline
    1. Introduction
      1. Introduction
      2. MoneyText
      1. Introduction
      2. GetToken
      3. GetTokens
      4. InString
      5. ExInt
      6. ExFl
      1. Introduction
      2. RegSMatch
      3. RegMatchWhole
      4. RegNMatches
      5. RegReplace
      6. RegSMatches
      7. RegSplit
    1. Introduction
      1. Introduction
      2. StdEq
      3. DiffGaps
      4. AddGaps
      1. Introduction
      2. SRound
      3. SFloor
      4. SCeiling
      5. RoundWeekDay
      6. RoundMonthDay
      7. RoundMD
      8. RoundDateSeq
      9. DateRound
      10. DateFloor
      11. DateCeiling
      12. Disperse
      13. RoundList
      1. Introduction
      2. BFVer
      3. DescribeLoanAcctOutput
      4. DescribeCombineSwitch
      5. DescribePmtsPerYear
      6. DescribeLevelSwitch
      7. DescribeBD
      8. DescribeDayCount
      9. DescribePeriods
      10. DescribeLookup
      11. DescribeRounding
      12. DescribeLoanOutput
      13. DescribeShape
      14. ArgValues
      1. Introduction
      2. Switch
      3. SwitchR
      4. SwitchT
      5. SwitchRT
      6. IfElse
      7. IfElseR
      8. IfElseT
      9. IfElseRT
      1. Introduction
      2. CollarDate
      3. InBetween
      4. Collar
      1. Introduction
      2. Ev
Note: In order to use the spreadsheet examples, you need to download Business Functions
Mortgage (Time, Base, FromDatesInt, IntSimple, FinishRates, FromDates, AnnDebtServiceRates, AdvanceDates, NetAdvances, [LongStopRepDate], [LoanOutput], [DayCount], [DayCountInt], [Periods], [PrdsInt], [ProjMode])
Mortgage
With Mortgage you essentially specify the amount of the loan in NetAdvances (and there can be several advances over time), and the total amount of cashflow that services both the interest and principal of the loan using AnnDebtServiceRates (and this can b
Auto Array Function
Whats good or unique about it

Mortgage does the kind of job that you might do yourself with a loan amortisation spreadsheet. However, it dos several things that would otherwise be extremely difficult or impossible:

  • Your timebase need bear no relation to the periodicity of the interest payments. For example, you can have an annual timebase for quarterly interest payments, or the other way around.
  • You can schedule in any number of loan advances or small ad-hoc repayments through NetAdvances.
  • You have the full daycount accuracy that is usual with Business Functions, so 30/360 interest is fine.
  • Your interest rate can vary over time, too.
  • Rather uniquely and powerfully, the timing of your interest/principal repayments and the AnnDebtServiceRates need not be the same - you can quarterly reveneue servicing an annual loan.

Key Points

DayCount and DayCountInt
You might wonder why this function has two sets of DayCount and Periods parameters. DayCountInt and ěPeriodsIntě apply to the interest and principal dates - ie the loan dates. On the other hand DayCount and Periods apply to the cashflow timing of the AnnDebtServiceRates. This is so that you could have quarterly interest but only annual AnnDebtServiceRates timing - what would happen is that the principal would only get paid down annually when cashflow is available, and inbetween the loan would actually be allowed to roll up. Or it could happen the other way around with annual interest and quarterly cashflow, where the cashflow would pool up, or accrue (without interest), until the next interest date.

Key Points

Mortgage caters for an extremely generic situation where debt service rates (the overall principal and interest repayment), and interest rates can vary over time. Often, if you just want to input a quick mortgage-type loan, it can be quicker to use MortgageQ, which although it has a smaller feature set, works out the debt service rate for you.

Example
Mortgage.xls  
Templates
This function features in the following downloadable spreadsheet template(s):

loan_mortgage.xls  
loan_mortgage_extrapayments.xls  
max_loan_mortgage.xls  
loan_mortgage_matcheddebtservice.xls  

Business Functions phone: +44 (0)20 8144 9374 (London UK)
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