/// <summary>
/// Calculate the monthly payment on this Cover Section
/// </summary>
/// <param name="instalmentCount">
/// The count of instalments
/// </param>
/// <param name="loanInterestPercentage">
/// The loan interest in percent
/// </param>
/// <param name="nonDepositFraction">
/// The fraction of the total PREMIUM loan NOT represented by the deposit
/// i.e. 1 - ( deposit / [total PREMIUM] )
/// </param>
public void CalculateMonthlyPayment(int instalmentCount, double loanInterestPercentage, double nonDepositFraction)
{
_installmentCount = instalmentCount;
_loanInterestPercentage = loanInterestPercentage;
_monthlyPayment =
NumericalOperation.PennyRound(_premium * nonDepositFraction * (1.0 + loanInterestPercentage / NumericalOperation.PercentageDivisor) / instalmentCount);
}
public void SetAdditionalCoverSectionMonthlyPaymentPlanDepositDetails(
int installmentCount, double schemeResultTotalDeposit, double schemeResultTotalPremium)
{
_installmentCount = installmentCount;
_uncorrectedDeposit = NumericalOperation.PennyRound(schemeResultTotalDeposit * _premium / schemeResultTotalPremium);
_depositCorrection = 0.0;
}
/// <summary>
/// Calculate the monthly payment by an Additional Cover Section
/// </summary>
/// <param name="schemeResultMonthlyPayment">The total value of a single monthly payment including that for the Primary Cover Section</param>
/// <param name="schemeResultTotalPremium">The total value of all the Cover Sections including the Primary Cover Section</param>
public void SetAdditionalCoverSectionMonthlyPaymentDetails(double schemeResultMonthlyPayment, double schemeResultTotalPremium)
{
_uncorrectedMonthlyPayment =
NumericalOperation.PennyRound(schemeResultMonthlyPayment * _premium / schemeResultTotalPremium);
// Reset
_monthlyPaymentCorrection = 0.0;
}
public void CalculateMonthlyPaymentPremiums(int instalmentCount)
{
_instalmentCount = instalmentCount;
if (instalmentCount == 12 /* a year */)
{
// No deposit at Renewal
_deposit = 0.0;
}
else
{
// Standard deposit calculation
_deposit =
NumericalOperation.PennyTruncate(TotalPremium *
(_depositPercentage / NumericalOperation.PercentageDivisor)) + _depositFixed;
}
double remainingPrinciple = TotalPremium - _deposit;
_totalCalculatedLoan = NumericalOperation.PennyRound(remainingPrinciple * (1.0 + _interestPercentage / NumericalOperation.PercentageDivisor));
// Round the monthly payment
// Note that due to the necessary rounding to a penny the total of all the payments may not equal exactly the calculated loan
_monthlyPayment = NumericalOperation.PennyRound(_totalCalculatedLoan / instalmentCount);
// The actual amount paid
double monthlyPaymentTotal = _monthlyPayment * instalmentCount;
// Check the difference between the total of the payments and the loan calculation
_totalPaymentDifferenceFromCalculatedLoan = monthlyPaymentTotal - _totalCalculatedLoan;
// Adjust the payments according to the deposit
double nonDepositFraction = 1.0 - _deposit / TotalPremium;
PrimaryCoverSection.CalculateMonthlyPayment(instalmentCount, _interestPercentage, nonDepositFraction);
SetAdditionalCoverSectionPayments(instalmentCount, nonDepositFraction);
// Generate total annual payment values
double totalAdditionalCoverSectionAnnualPayment = TotalAdditionalCoverSectionMonthlyPayments * instalmentCount;
double totalPrimaryCoverSectionAnnualPayment = PrimaryCoverSection.MonthlyPayment * instalmentCount;
// Calculate the difference between the total of the penny rounded payments and what the total should really be
double multiplePaymentCorrection = monthlyPaymentTotal
- (totalPrimaryCoverSectionAnnualPayment + totalAdditionalCoverSectionAnnualPayment);
// Put into the Deposit the difference between the total of the individual payments and what the total should have been
_multiplePaymentCorrection = multiplePaymentCorrection;
} // CalculateMonthlyPaymentPremiums
public void CalculateMonthlyPaymentPremiums(bool depositRequired, int installmentCount)
{
// Simple Endsleigh style payment validation
if (depositRequired)
{
// New Business
if (installmentCount != 11)
{
throw new ArgumentException(String.Format("Cases where a deposit is required must be New Business and have 11 payments"));
}
} // New Business
else
{
// Renewals
if (installmentCount != 12)
{
throw new ArgumentException(String.Format("Cases where a deposit is NOT required must be Renewals and have 12 payments"));
}
} // Renewals
_installmentCount = installmentCount;
if (depositRequired)
{
// Standard deposit calculation for New Business
double depositTotal =
NumericalOperation.PennyTruncate(TotalPremium *
(_depositPercentage / NumericalOperation.PercentageDivisor)) + _depositFixedAmount;
foreach (PaymentCoverSection additionalCoverSection in _additionalPaymentCoverSectionContainer)
{
additionalCoverSection.SetAdditionalCoverSectionMonthlyPaymentPlanDepositDetails(installmentCount, depositTotal, TotalPremium);
}
PrimaryPaymentCoverSection.InstallmentCount = installmentCount;
// Use the remainder as the Primary Cover Section Deposit
PrimaryPaymentCoverSection.UncorrectedDeposit = depositTotal - TotalAdditionalCoverSectionDeposits;
PrimaryPaymentCoverSection.DepositCorrection = 0.0;
} // Standard deposit calculation for New Business
else
{
// No deposit at Renewal
foreach (PaymentCoverSection additionalCoverSection in _additionalPaymentCoverSectionContainer)
{
additionalCoverSection.SetAdditionalCoverSectionMonthlyPaymentPlanDepositDetails(installmentCount, 0.0, TotalPremium);
}
PrimaryPaymentCoverSection.InstallmentCount = installmentCount;
PrimaryPaymentCoverSection.UncorrectedDeposit = 0.0;
PrimaryPaymentCoverSection.DepositCorrection = 0.0;
}
double loanPrincipal = TotalPremium - Deposit;
_totalCalculatedLoan = NumericalOperation.PennyRound(loanPrincipal * (1.0 + _interestPercentage / NumericalOperation.PercentageDivisor));
// Round the monthly payment
// Note that due to the necessary rounding to a penny the total of all the payments may not equal exactly the calculated loan
_monthlyPayment = NumericalOperation.PennyRound(_totalCalculatedLoan / installmentCount);
// The actual amount paid
double monthlyPaymentTotal = _monthlyPayment * installmentCount;
// Retain the difference between the total of the payments and the loan calculation
_totalPaymentDifferenceFromCalculatedLoan = _totalCalculatedLoan - monthlyPaymentTotal;
if (depositRequired)
{
// When there is a non-zero deposit correct the total payment
// to equal the calculated loan by changing the value of the deposit
PrimaryPaymentCoverSection.DepositCorrection = _totalPaymentDifferenceFromCalculatedLoan;
}
// Distribute the payments across the Cover Sections according to the premium for each Cover Section
foreach (PaymentCoverSection additionalCoverSection in _additionalPaymentCoverSectionContainer)
{
additionalCoverSection.SetAdditionalCoverSectionMonthlyPaymentDetails(_monthlyPayment, TotalPremium);
}
// Use the remainder as the Primary Cover Section Monthly Payment
PrimaryPaymentCoverSection.UncorrectedMonthlyPayment = _monthlyPayment - TotalAdditionalCoverSectionMonthlyPayments;
// Calculate the difference between the total of the penny rounded or truncated payments and what the total payments should be really
// This should be very close to zero
double multiplePaymentDifference = monthlyPaymentTotal - TotalAnnualPayment;
_multiplePaymentDifference = multiplePaymentDifference;
} // CalculateMonthlyPaymentPremiums
