The result is a sequence of two elements: an amortization table and the cost of the loan.

The amortization table consists of lists comprising of 5 elements

The cost of the loan is the sum of the third column.

The payment can be a procedure. It will be called with two arguments: the period number and the interest to be paid. This can be used, for example to have increasing payments, or to pay down a fixed amount of principal at each period

Refer to Finance[annuity] for more details on mortgages. Refer to Finance[effectiverate] for selecting the appropriate value for the interest rate to be used.

The command with(Finance,amortization) allows the use of the abbreviated form of this command.

Since amortization used to be part of the (now deprecated) finance package, for compatibility with older worksheets, this command can also be called using finance[amortization]. However, it is recommended that you use the superseding package name, Finance instead: Finance[amortization].

The Finance[amortization] command was introduced in Maple 15.

For more information on Maple 15 changes, see Updates in Maple 15.