/* * 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 java.math.BigDecimal; import java.math.MathContext; import java.util.Objects; import javax.money.MonetaryAmount; import javax.money.MonetaryOperator; /** * 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 * * <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 future value of annuity due formula would be * used. * * @see http://www.financeformulas.net/Present_Value_of_Annuity.html * @author Anatole * @author Werner * */ public final class PresentValueOfAnnuity 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 PresentValueOfAnnuity(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 PresentValueOfAnnuity of(Rate rate, int periods) { return new PresentValueOfAnnuity(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) { Objects.requireNonNull(amount, "Amount required"); Objects.requireNonNull(rate, "Rate required"); MonetaryAmount sum = null; for(int i=1;i<=periods;i++){ MonetaryAmount temp = PresentValue.calculate(amount, rate, i); if(sum==null){ sum = temp; }else { sum = sum.add(temp); } } if(sum==null){ return amount.getFactory().setNumber(0).create(); } return sum; } @Override public MonetaryAmount apply(MonetaryAmount amount) { return calculate(amount, rate, periods); } @Override public String toString() { return "PresentValueOfAnnuity{" + "rate=" + rate + ", periods=" + periods + '}'; } }