"Dan" agrees to pay to "Ned" the total sum 10000 EUR, in the manner following:

500 EUR is to be paid at closing, and the remaining balance of 9500 EUR shall be paid as follows:

500 EUR or more per month on the first day of each and every month, and continuing until the entire balance, including both principal and interest, shall be paid in full -- provided, however, that the entire balance due plus accrued interest and any other amounts due here-under shall be paid in full on or before 24 months.

Monthly payments, which shall start on month 3, include both principal and interest with interest at the rate of 1.5%, computed monthly on the remaining balance from time to time unpaid.

{{BUYER}} agrees to pay to {{SELLER}} the total sum {{INITIAL_DUE}}, in the manner following:

{{DUE_AT_CLOSING}} is to be paid at closing, and the remaining balance of {{TOTAL_DUE_BEFORE_CLOSING}} shall be paid as follows:

{{MIN_PAYMENT}} or more per month on the first day of each and every month, and continuing until the entire balance, including both principal and interest, shall be paid in full -- provided, however, that the entire balance due plus accrued interest and any other amounts due here-under shall be paid in full on or before 24 months.

Monthly payments, which shall start on month {{FIRST_MONTH}}, include both principal and interest with interest at the rate of {{INTEREST_RATE}}%, computed monthly on the remaining balance from time to time unpaid.

namespace org.accordproject.installmentsale

import org.accordproject.cicero.contract.* from https://models.accordproject.org/cicero/contract.cto
import org.accordproject.cicero.runtime.* from https://models.accordproject.org/cicero/runtime.cto
import org.accordproject.money.MonetaryAmount from https://models.accordproject.org/money.cto

transaction Installment extends Request {
  o MonetaryAmount amount
}

transaction ClosingPayment extends Request {
  o MonetaryAmount amount
}

transaction Balance extends Request {
  o MonetaryAmount balance
	o MonetaryAmount total_paid
}

enum ContractStatus {
  o WaitingForFirstDayOfNextMonth
  o Fulfilled
}

asset InstallmentSaleState extends AccordContractState {
  o ContractStatus status
  o MonetaryAmount balance_remaining
  o Integer next_payment_month
	o MonetaryAmount total_paid
}

/**
 * The template model
 */
asset InstallmentSaleContract extends AccordContract {
  o AccordParty BUYER
	o AccordParty SELLER
  o MonetaryAmount INITIAL_DUE
  o Double INTEREST_RATE
  o MonetaryAmount TOTAL_DUE_BEFORE_CLOSING
  o MonetaryAmount MIN_PAYMENT
  o MonetaryAmount DUE_AT_CLOSING
  o Integer FIRST_MONTH
}