TVM 1.2.2 Java Bean
Time Value of Money (TVM) is an important concept in financial management. It can be used to compare investment alternatives and to solve a wide variety of financial calculations involving loans, mortgages, leases, savings, and annuities. (more...)
TVM Bean FeaturesCedarSpring.TVM is a non-visual (no graphical user interface) java bean that closely emulates the Time Value of Money functions of the Texas Instruments BAII Plus and Hewlett Packard 10B financial calculators. The bean can be used either on a client or a server so that you can choose the environment best suited for your application.
The bean is offered as a educational tool to help illustrate the basic concepts of reusable software components and Time Value of Money. It should not be used for financial decisions or in any situation that might result in a financial loss without additional testing and modification to insure that it is accurate and suitable for your application.
The bean is easy to use and customize:
PropertiesThese are independent properties that you can set and retrieve in any order:
These are properties that derive their value from other properties or affect other properties. They are marked as "Expert" since the order in which you set or retrieve them is important.
MethodsIn additions to the get and set methods for each property listed in the properties table, there are five compute methods, three control methods, and four event registration methods. You can find more information about each method in the API.
Compute MethodsThese methods will compute a new property value after the other four values have been set:
Control MethodsThese methods will set a group of properties to their default state:
Event Registration MethodsThese methods will register an object to receive Error and Property Change Events:
PropertyChangeEventsAll read/write properties are bound.
ErrorEventsMethods do not throw Exceptions when an error or warning occurs. Instead, a method will fire an ErrorEvent and set the
The two read-only properties (effectiveRate and AmortizationSchedule) can fire error events since they compute the values only when requested. When an error occurs, an event is fired. The getEffectiveRate method will return 0. The getAmortizationSchedule method will return an empty schedule.
The messages in the Error Events can be customized to fit the jargon of a particular industry or localized for a particular language and country (locale). Since the text of the message may change, you should always use the code (which remains constant) to determine which error occurred. Error W01 is not used in this version.
The signs for present value, future value, and payment follow the cash flow convention where money that you invest (money flowing out) is negative and money that you receive is positive. For example, you apply for a $100,000 mortgage and agree to monthly payments with a final (balloon) payment of $50,000 at the end of 15 years. You must enter the present value as 100,000 since you receive that amount from the mortgage company. You must enter -50,000 into future value since you will pay out that amount as a lump-sum at the end of the loan. When you calculate the monthly payment, it will be a negative amount since it is money flowing out each month. There must be at least one positive and one negative cash flow in each financial transaction.
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