An Existing Fixed series is used to generate cash flows for an Existing Fixed principal or Interest Only series at any date in the life of the loan.
Use this type of series to value an existing fixed payment to principal note at a different rate than that specified on the note. It is also useful when you are discounting a series of interest only payments at a different rate.
Note: An Existing Fixed series is used to compute the value of an existing loan. Do not use it to set up a new loan. Use the Fixed Principal Plus Interest or Interest Only series for the original setup of a principal plus interest loan.
To generate cash flows from an existing fixed principal series
- Click the Home ribbon's Special Series menu button in the Detail group.
Tip: You could also press [F2] from the Amount field of a cash flow line.
- Select Existing Fixed from the drop-down menu. The cash flow line will expand to include the Special Series detail.
- In the Note balance field, enter the balance that is remaining on the existing note. This balance will be used to compute the interest for each period.
- In the Rate for note field, enter the rate of the existing note. This rate will be used to calculate the total payment amount.
- In the Principal payment field, enter the principal payment that will be made each period. Interest will be added to this amount each period.
After you finish editing the series detail, you can continue on to the Number field by pressing [Tab]. TValue will automatically calculate the payment amounts when the amortization schedule is prepared.
Example screenshots
Cash Flow Matrix
Amortization Schedule Report
