Suppose i'm processing the following lease transaction with the following input parameters :
lease created date = Sep., 13 th 2004
first payment date = Nov., 30 th 2004
* grace period is considered " accounted for " since lease creation date up to first payment date .
p.v. " lease amount " = 6725 $
no. of payments = 72 months
payment amount = 118
f.v. "lease amount + interest" = 10436 $
balloon amout = 1440
no. of balloon payments = 6
balloon payment = 240
balloon first payment date = Oct.,30 th 2005
CF = PF = monthly
My question is .... in trying to find the value of the " nominal rate " ...does the existance of
balloon payments affect the calculation of the " nominal rate " ? and if it does please explain ?
P.S. this is an actual transaction with actual parameters
Regards
Saher Edris
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