/*
* Copyright (c) 2012, 2013, Credit Suisse (Anatole Tresch), Werner Keil. Licensed under the Apache
* License, Version 2.0 (the "License"); you may not use this file except in compliance with the
* License. You may obtain a copy of the License at http://www.apache.org/licenses/LICENSE-2.0
* Unless required by applicable law or agreed to in writing, software distributed under the License
* is distributed on an "AS IS" BASIS, WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express
* or implied. See the License for the specific language governing permissions and limitations under
* the License.
*/
package org.javamoney.calc.common;
import org.javamoney.calc.CalculationContext;
import javax.money.MonetaryAmount;
import javax.money.MonetaryOperator;
import java.math.BigDecimal;
import java.util.Objects;
/**
* <p>
* <img src= "http://www.financeformulas.net/Formula%20Images/FV%20of%20Annuity%204.gif" />
* <p>
* The future value of an annuity formula is used to calculate what the value at a future date would
* be for a series of periodic payments. The future value of an annuity formula assumes that
* <p>
* <nl>
* <li>The rate does not change
* <li>The first payment is one period away
* <li>The periodic payment does not change
* </nl>
* If the rate or periodic payment does change, then the sum of the future value of each individual
* cash flow would need to be calculated to determine the future value of the annuity. If the first
* cash flow, or payment, is made immediately, the {@link org.javamoney.calc.common.FutureValue} formula would be used.
*
* @author Anatole
* @author Werner
* @see http://www.financeformulas.net/Future_Value_of_Annuity.html
*/
public final class FutureValueOfAnnuity implements MonetaryOperator {
/**
* the target rate, not null.
*/
private Rate rate;
/**
* the periods, >= 0.
*/
private int periods;
/**
* Private constructor.
*
* @param rate the target rate, not null.
* @param periods the periods, >= 0.
*/
private FutureValueOfAnnuity(Rate rate, int periods) {
this.rate = Objects.requireNonNull(rate);
if (periods < 0) {
throw new IllegalArgumentException("Periods < 0");
}
this.periods = periods;
}
public int getPeriods() {
return periods;
}
public Rate getRate() {
return rate;
}
/**
* Access a MonetaryOperator for calculation.
* @param rate the rate, not null.
* @param periods the target periods, >= 0.
* @return the operator, never null.
*/
public static FutureValueOfAnnuity of(Rate rate, int periods) {
return new FutureValueOfAnnuity(rate, periods);
}
/**
* Performs the calculation.
*
* @param amount the first payment
* @param rate The rate, not null.
* @param periods the target periods, >= 0.
* @return the resulting amount, never null.
*/
public static MonetaryAmount calculate(MonetaryAmount amount, Rate rate, int periods) {
// Am * (((1 + r).pow(n))-1/rate)
final BigDecimal ONE = CalculationContext.one();
return amount.multiply(ONE.add(rate.get()).pow(periods).subtract(ONE).divide(
rate.get(),CalculationContext.mathContext()));
}
@Override
public MonetaryAmount apply(MonetaryAmount amount) {
return calculate(amount, rate, periods);
}
@Override
public String toString() {
return "FutureValueOfAnnuity{" +
"rate=" + rate +
", periods=" + periods +
'}';
}
}