Calculating Interest Payments?

8 Jun 2006 3:12 AM

Charles A. Lackman

Hello,

I am looking for assistance (or a control - Loan Calculator) that will
calculate monthly payments. Here is an example of what I am looking for (a
formula would work great).

7.25% for 48 Months

Purchase Price:                  170,777.64
DownPayment:                               0.00
Additional Cash Down:                  0.00
Balance To Finance:          170,777.64

Monthly Payment:                    4,109.25

What would be the mathematical equation for this?

Thanks,

Chuck

8 Jun 2006 5:23 AM

Peter Franks

Charles A. Lackman wrote:
Show quote

> Hello,
>
> I am looking for assistance (or a control - Loan Calculator) that will
> calculate monthly payments. Here is an example of what I am looking for (a
> formula would work great).
>
> 7.25% for 48 Months
>
> Purchase Price:                  170,777.64
> DownPayment:                               0.00
> Additional Cash Down:                  0.00
> Balance To Finance:          170,777.64
>
> Monthly Payment:                    4,109.25
>
> What would be the mathematical equation for this?

http://www.1728.com/loanform.htm

8 Jun 2006 2:49 PM

Jim Wooley

Show quote

> Hello,
>
> I am looking for assistance (or a control - Loan Calculator) that will
> calculate monthly payments. Here is an example of what I am looking
> for (a formula would work great).
>
> 7.25% for 48 Months
>
> Purchase Price:                  170,777.64
> DownPayment:                               0.00
> Additional Cash Down:                  0.00
> Balance To Finance:          170,777.64
> Monthly Payment:                    4,109.25
>
> What would be the mathematical equation for this?

Luckily, in VB you can use the Financial.Pmt function and not need to worry
about the formula. It can also determine the Rate, FutureValue, PresentValue
and Term.

Jim Wooley
http://devauthority.com/blogs/jwooley/default.aspx