@Test
public void testGetPaymentsAmortizedFully() {
AmortizationAttributes amAttrs = generateAmortizationAttributesObjectTemplate();
MonetaryAmount loanAmount = ofUSD(10000);
amAttrs.setLoanAmount(loanAmount);
amAttrs.setInterestRateAsPercent(7.);
amAttrs.setInterestOnly(false);
amAttrs.setPaymentFrequency(TimePeriod.Monthly.getPeriodsPerYear());
int termInMonths = 12;
amAttrs.setTermInMonths(termInMonths);
amAttrs.setAmortizationPeriodInMonths(12);
amAttrs.setCompoundingPeriodsPerYear(2);
amAttrs.setRegularPayment(AmortizationCalculator.getPeriodicPayment(amAttrs));
List<ScheduledPayment> schedule = AmortizationCalculator.generateSchedule(amAttrs);
MonetaryAmount interestTotal =
schedule.stream().map(payment -> payment.getInterest()).reduce((a, b) -> a.add(b)).get();
assertEquals("Amortized Interest total", ofUSD(377.67), interestTotal);
MonetaryAmount principalTotal =
schedule.stream().map(payment -> payment.getPrincipal()).reduce((a, b) -> a.add(b)).get();
assertEquals("Amortized Principal fully paid", loanAmount, principalTotal);
}
@Test
public void testGetActualPaymentWithNullRegularPayment() {
AmortizationAttributes amAttrs = generateAmortizationAttributesObjectTemplate();
amAttrs.setRegularPayment(null);
MonetaryAmount periodicPayment = AmortizationCalculator.getPeriodicPayment(amAttrs);
assertNotNull("Regular payment computed when initialized as null", periodicPayment);
}
@Test
public void testGetPeriodicPaymentInterestOnlyMonthly() {
AmortizationAttributes amAttrs = generateAmortizationAttributesObjectTemplate();
amAttrs.setLoanAmount(USD50000);
amAttrs.setPaymentFrequency(12);
amAttrs.setInterestRateAsPercent(12.);
amAttrs.setInterestOnly(true);
MonetaryAmount result = AmortizationCalculator.getPeriodicPayment(amAttrs);
assertEquals("Monthly interest-only payment", USD500, result);
}
@Test
public void testGetPeriodicPaymentAmortizedMonthlyCompoundPeriod() {
AmortizationAttributes amAttrs = generateAmortizationAttributesObjectTemplate();
amAttrs.setLoanAmount(USD50000.multiply(2));
amAttrs.setInterestRateAsPercent(12.);
amAttrs.setCompoundingPeriodsPerYear(12);
amAttrs.setPaymentFrequency(12);
MonetaryAmount result = AmortizationCalculator.getPeriodicPayment(amAttrs);
MonetaryAmount expectedResult = ofUSD(1053.23);
assertEquals("Monthly amortized payment compounded monthly", expectedResult, result);
}
@Test
public void testGetPeriodicPaymentCompoundSemiPaymentSemiAnnually() {
AmortizationAttributes amAttrs = generateAmortizationAttributesObjectTemplate();
amAttrs.setLoanAmount(USD50000.divide(5));
amAttrs.setInterestRateAsPercent(10.);
amAttrs.setCompoundingPeriodsPerYear(TimePeriod.SemiAnnually.getPeriodsPerYear());
amAttrs.setAmortizationPeriodInMonths(12);
amAttrs.setPaymentFrequency(TimePeriod.SemiAnnually.getPeriodsPerYear());
MonetaryAmount result = AmortizationCalculator.getPeriodicPayment(amAttrs);
MonetaryAmount expectedResult = ofUSD(5378.05);
assertEquals("Amortized, compounded semi-annual, payment semimonthly", expectedResult, result);
}
@Test
public void testGetPeriodicPaymentInterestOnlyTimePeriods() {
AmortizationAttributes amAttrs = generateAmortizationAttributesObjectTemplate();
amAttrs.setLoanAmount(USD50000);
amAttrs.setInterestRateAsPercent(10.);
amAttrs.setInterestOnly(true);
amAttrs.setPaymentFrequency(52);
MonetaryAmount result = AmortizationCalculator.getPeriodicPayment(amAttrs);
MonetaryAmount expectedResult = ofUSD(96.16);
assertEquals("Weekly interest-only", expectedResult, result);
amAttrs.setPaymentFrequency(26);
result = AmortizationCalculator.getPeriodicPayment(amAttrs);
expectedResult = ofUSD(192.31);
assertEquals("BiWeekly interest-only", expectedResult, result);
amAttrs.setPaymentFrequency(26);
result = AmortizationCalculator.getPeriodicPayment(amAttrs);
expectedResult = ofUSD(192.31);
assertEquals("BiWeekly interest-only", expectedResult, result);
amAttrs.setPaymentFrequency(12);
result = AmortizationCalculator.getPeriodicPayment(amAttrs);
expectedResult = ofUSD(416.67);
assertEquals("Monthly interest-only", expectedResult, result);
amAttrs.setPaymentFrequency(6);
result = AmortizationCalculator.getPeriodicPayment(amAttrs);
expectedResult = ofUSD(833.34);
assertEquals("BiMonthly interest-only", expectedResult, result);
amAttrs.setPaymentFrequency(4);
result = AmortizationCalculator.getPeriodicPayment(amAttrs);
expectedResult = ofUSD(1250);
assertEquals("Quarterly interest-only", expectedResult, result);
amAttrs.setPaymentFrequency(2);
result = AmortizationCalculator.getPeriodicPayment(amAttrs);
expectedResult = ofUSD(2500);
assertEquals("Semiannual interest-only", expectedResult, result);
amAttrs.setPaymentFrequency(1);
result = AmortizationCalculator.getPeriodicPayment(amAttrs);
expectedResult = ofUSD(5000);
assertEquals("Annual interest-only", expectedResult, result);
}
@Test
public void testGetPeriodicPaymentInterestOnlyMonthlyRoundsCeiling() {
AmortizationAttributes amAttrs = generateAmortizationAttributesObjectTemplate();
amAttrs.setLoanAmount(USD50000);
amAttrs.setPaymentFrequency(12);
amAttrs.setInterestRateAsPercent(11.);
amAttrs.setInterestOnly(true);
MonetaryAmount expectedResult =
Monetary.getDefaultAmountFactory().setCurrency("USD").setNumber(458.34).create();
MonetaryAmount result = AmortizationCalculator.getPeriodicPayment(amAttrs);
assertEquals(
"Monthly interest-only payment fractional penny, less than half a cent, rounds UP",
expectedResult,
result);
}
@Test
public void testGetPeriodInterest_InterestOnly() {
AmortizationAttributes amAttrs = generateAmortizationAttributesObjectTemplate();
amAttrs.setLoanAmount(USD50000);
amAttrs.setPaymentFrequency(12);
amAttrs.setInterestRateAsPercent(11.);
amAttrs.setInterestOnly(true);
// MonetaryAmount expectedResult = Monetary.getDefaultAmountFactory()
// .setCurrency("USD")
// .setNumber(458.34)
// .create();
MonetaryAmount periodicPaymentResult = AmortizationCalculator.getPeriodicPayment(amAttrs);
MonetaryAmount periodInterestRestult = AmortizationCalculator.getPeriodInterest(amAttrs);
assertEquals(
"Monthly interest-only payment should match interest computed for period.",
periodicPaymentResult,
periodInterestRestult);
}
@Test
public void testGetPaymentsAmortized() {
AmortizationAttributes amAttrs = generateAmortizationAttributesObjectTemplate();
amAttrs.setLoanAmount(ofUSD(200000));
amAttrs.setInterestRateAsPercent(8.);
amAttrs.setInterestOnly(false);
amAttrs.setPaymentFrequency(TimePeriod.Monthly.getPeriodsPerYear());
int termInMonths = 36;
amAttrs.setTermInMonths(termInMonths);
amAttrs.setAmortizationPeriodInMonths(20 * 12);
amAttrs.setCompoundingPeriodsPerYear(2);
amAttrs.setRegularPayment(AmortizationCalculator.getPeriodicPayment(amAttrs));
List<ScheduledPayment> schedule = AmortizationCalculator.generateSchedule(amAttrs);
assertEquals("Amortized payment count", termInMonths, schedule.size());
MonetaryAmount interestTotal =
schedule.stream().map(payment -> payment.getInterest()).reduce((a, b) -> a.add(b)).get();
assertEquals("Amortized Interest total", ofUSD(45681.29), interestTotal);
}
