New mathematical annuity models in a skip payment loan with rhythmic skips

Abdullah Eroglu and Harun Ozturk

The Engineering Economist, 2016, vol. 61, issue 1, 70-78

Abstract: Formato derived a useful formula in which the amount of periodic payment was equal in a skip payment loan with arbitrary skips. Formato's model was improved by Moon in a geometric-gradient series. Eroglu and Karaoz rederived Formato's result to the case where periodic payments occur in a linear-gradient series. In this study, general formulas are derived for payment loan models in which a certain number of periodic payment amounts are determined by the customer at the beginning of the loan term and the other payments are rhythmic skips with split constant instead of random skips.

Date: 2016
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://hdl.handle.net/10.1080/0013791X.2015.1095382 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:uteexx:v:61:y:2016:i:1:p:70-78

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/UTEE20

DOI: 10.1080/0013791X.2015.1095382

Access Statistics for this article

The Engineering Economist is currently edited by Sarah Ryan

More articles in The Engineering Economist from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().