The Convert Money tool allows a CL program to calculate such
functions as how much money is owed each month on a typical mortgage
calculation. Use DSPMONEY for an interactive interface. Several
commands are provided.
CVTMONGROW How much will an initial amount grow to that is
invested for a certain number of years?
CVTMONLOAN What is the periodic payment amount if a certain
amount is borrowed for a specific number of years?
This is the typical mortgage calculation.
CVTMONPV What is the present value of money? You will
receive an amount in the future. What would someone
pay you today for the promise to receive the full
amount in the future.
CVTMONLVL How much money will be accumulated if you make level
payments for a certain number of years?
CVTMONANU How much money will you need to establish an annuity
that will pay you a level income for a period of
years?
CVTMONFUND You want to accumulate a certain amount of money at
a specific date in the future. How much do you need
to invest each period?
CVTMONDIST You have a sum of money today and want to distribute
it with fixed amount distributions. How many
distributions can be made?
The DSPMONEY tool provides an interactive display for the same
corresponding functions. It also provides listings. CVTMONEY
provides return variables for the important values.
A typical CVTMONGROW command would be:
DCL RTNAMT *DEC LEN(15 2)
.
CVTMONGROW INLAMT(100000) INTRATE(3.25) RTNAMT(&RTNAMT)
The defaults for CVTMONGROW are to compound interest monthly for 10
years. The return amount would be 138,342.22.
Escape messages you can monitor for
-----------------------------------
None. Escape messages from based on functions will be re-sent.
CVTMONGROW Command parameters *CMD
-----------------------------
INLAMT The initial amount of money to be invested.
INTRATE The interest rate to be earned. Six and one half
percent should be entered as 6.5.
COMPOUND The frequency in which the interest will be
compounded. The default is *MTHLY. The other
values which may be entered are *DAILY, *WEEKLY,
*QTRLY, *SEMIAN, and *ANN.
YEARS The number of years that the money is to accumulate.
Only full years are considered. The default is 10.
STRYEAR The year to start. The default is *CUR for the
current year.
TAXRATE The tax rate to be considered for the earned
interest. The default is 0. Entering a tax rate
lets you see the net interest that is being
accumulated.
RTNAMT A required return parameter for the amount
accumulated. The return variable must be declared
as *DEC LEN(15 2).
CVTMONLOAN Command parameters *CMD
-----------------------------
LOANAMT The amount to be loaned.
INTRATE The interest rate to be charged. Six and one half
percent should be entered as 6.5.
YEARS The number of years to repay. Only full years are
used. The default is 10.
STRYEAR The year to start. The default is *CUR which means
the current year.
STRMTH The month to start. The default is *CUR for the
current month.
PAYFREQ The payment frequency. The default is *MTHLY.
Other values which may be entered are *BIMTH,
*QTRLY, *SEMIAN, and *ANN.
ADDPRN The additional principal amount. The default is 0.
This amount does not reduce the regular payment. It
allows you to pay off the loan earlier by paying a
fixed amount every period (in addition to the
regular payment) to reduce the principal. This has
the effect of reducing the number of pay periods and
causing the last payment to be less than the normal
amount. For example, if your monthly payment is
312.45, you can pay an additional 100.00 per month
to help reduce the principal and thus pay off the
loan earlier.
PAYAMT The amount to be paid each period. This is a
required return parameter that must be specified as
*DEC LEN(15 2).
LSTPAY The amount to be paid for the last period. This may
be meaningful if additional principal is being paid.
This is an optional return parameter that must be
specified as *DEC LEN(15 2).
NBRPAY The total number of payments. This may be
meaningful if additional principal is being paid.
This is an optional return parameter that must be
specified as *DEC LEN(7 0).
CVTMONPV Command parameters *CMD
---------------------------
AMT The amount of money to be received at the end of the
period.
INTRATE The interest rate to be used. Six and one half
percent should be entered as 6.5.
COMPOUND The frequency in which the interest will be
compounded. The default is *MTHLY. The other
values which may be entered are *DAILY, *WEEKLY,
*QTRLY, *SEMIAN, and *ANN.
YEARS The number of years that the money is to be
discounted. Only full years are considered. The
default is 10.
RTNAMT The present value of the money. This is a required
return parameter that must be specified as *DEC
LEN(15 2).
CVTMONLVL Command parameters *CMD
----------------------------
LVLAMT The amount you plan to invest per period.
INTRATE The interest rate to be earned. Six and one half
percent should be entered as 6.5.
LVLFREQ The frequency in which you plan to invest. The
default is *MTHLY. The other values which may be
entered are *QTRLY, *SEMIAN, and *ANN. It is
assumed that the interest will be compounded at the
same frequency as your investment.
YEARS The number of years that the money is to accumulate.
Only full years are considered. The default is 10.
STRYEAR The year to start. The default is *CUR for the
current year.
STRMTH The month to start. The default is *CUR for the
current month.
INLAMT The initial amount of money (if any) to begin with.
The default is 0 meaning no initial amount.
TAXRATE The tax rate to be considered for the earned
interest. The default is 0. Entering a tax rate
lets you see the net interest that is being
accumulated.
RTNAMT The return amount of money that has been
accumulated. This is a required return parameter
that must be specified as *DEC LEN(15 2).
CVTMONANU Command parameters *CMD
----------------------------
AMTRCV This is the amount you want to receive at each
period.
INTRATE The interest rate to be earned. Six and one half
percent should be entered as 6.5.
RCVFREQ The frequency in which you will receive the money.
The default is *MTHLY. The other values which may
be entered are *QTRLY, *SEMIAN, and *ANN. The
frequency you receive the money is assumed to be the
same as the frequency that the interest is
compounded.
YEARS The number of years that the money is to be paid
out. Only full years are considered. The default
is 10.
RTNAMT The total amount of money that must be invested to
achieve the annuity. This is a required return
parameter that must be specified as *DEC LEN(15 2).
CVTMONFUND Command parameters *CMD
-----------------------------
TOTAMT The total amount of money to be accumulated.
INTRATE The interest rate to be earned. Six and one half
percent should be entered as 6.5.
YEARS The number of years to pay into the fund. The
default is 10.
STRYEAR The year to start. The default is *CUR for the
current year.
STRMTH The month to start. The default is *CUR for the
current month.
PAYFREQ The payment frequency. The default is *MTHLY.
Other values which may be entered are *QTRLY,
*SEMIAN, and *ANN.
TAXRATE The tax rate to be considered for the earned
interest. The default is 0. Entering a tax rate
lets you see the impact of paying taxes on the
earned interest.
PAYAMT The periodic amount that must be paid to achieve the
fund level. This is a required return parameter
that must be specified as *DEC LEN(15 2).
PAYNBR The number of payments from the fund. This is an
optional return parameter that must be specified as
*DEC LEN(7 0).
CVTMONDIST Command parameters *CMD
-----------------------------
INLAMT The initial amount of money that exists to be
distributed.
DSTAMT The distribution amount for each period. This is a
level amount for each period.
INTRATE The interest rate to be earned. Six and one half
percent should be entered as 6.5.
DSTFREQ The distribution frequency. How often will the
distribution amount be distributed. The default is
*MTHLY. Other values which may be entered are
*QTRLY, *SEMIAN, and *ANN.
STRYEAR The year to start. The default is *CUR for the
current year.
STRMTH The month to start. The default is *CUR for the
current month.
TAXRATE The tax rate to be considered for the earned
interest. The default is 0. Entering a tax rate
lets you see the impact of paying taxes on the
earned interest. It is assumed the initial amount
is tax free.
PAYNBR The number of payments that will be made. This is a
required return parameter that must be specified as
*DEC LEN(7 2).
LSTPAY The amount of the last payment. This is an optional
return parameter that must be specified as *DEC
LEN(15 2).
Restrictions
------------
None.
Prerequisites
-------------
The following TAA Tools must be on your system:
EDTVAR Edit variable
RSNLSTMSG Resend last message
RTVDAT Retrieve date
RTVSYSVAL3 Retrieve system value 3
SNDCOMPMSG Send completion message
SNDESCINF Send escape information
SNDESCMSG Send escape message
SNDSTSMSG Send status message
Implementation
--------------
None, the tool is ready to use.
Objects used by the tool
------------------------
Object Type Attribute Src member Src file
------ ---- --------- ---------- ----------
CVTMONGROW *CMD TAAMONB QATTCMD
CVTMONLOAN *CMD TAAMONB2 QATTCMD
CVTMONPV *CMD TAAMONB3 QATTCMD
CVTMONLVL *CMD TAAMONB4 QATTCMD
CVTMONANU *CMD TAAMONB5 QATTCMD
CVTMONFUND *CMD TAAMONB6 QATTCMD
CVTMONDIST *CMD TAAMONB7 QATTCMD
TAAMONBC *PGM CLP TAAMONBC QATTCL
TAAMONBC2 *PGM CLP TAAMONBC2 QATTCL
TAAMONBC3 *PGM CLP TAAMONBC3 QATTCL
TAAMONBC4 *PGM CLP TAAMONBC4 QATTCL
TAAMONBC5 *PGM CLP TAAMONBC5 QATTCL
TAAMONBC6 *PGM CLP TAAMONBC6 QATTCL
TAAMONBC7 *PGM CLP TAAMONBC7 QATTCL
TAAMONBR *PGM RPG TAAMONBR QATTRPG
TAAMONBR2 *PGM RPG TAAMONBR2 QATTRPG
TAAMONBR3 *PGM RPG TAAMONBR3 QATTRPG
TAAMONBR4 *PGM RPG TAAMONBR4 QATTRPG
TAAMONBR5 *PGM RPG TAAMONBR5 QATTRPG
TAAMONBR6 *PGM RPG TAAMONBR6 QATTRPG
TAAMONBR7 *PGM RPG TAAMONBR7 QATTRPG
Structure
---------
CVTMONGROW Cmd
TAAMONBC CL
TAAMONBR RPG
CVTMONLOAN Cmd
TAAMONBC2 CL
TAAMONBR2 RPG
CVTMONPV Cmd
TAAMONBC3 CL
TAAMONBR3 RPG
CVTMONLVL Cmd
TAAMONBC4 CL
TAAMONBR4 RPG
CVTMONANU Cmd
TAAMONBC5 CL
TAAMONBR5 RPG
CVTMONFUND Cmd
TAAMONBC6 CL
TAAMONBR6 RPG
CVTMONDIST Cmd
TAAMONBC7 CL
TAAMONBR7 RPG
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