Loan/Payment Functions

[DexterMorgan 0]

I have no idea if someone did this before, but I was learning this at school, and decided to make one with autoit. Im going to create a whole GUI and even the NPER formula and make a whole thing with it for a project.

;// PMT EXAMPLE (How much you will pay per Month)
$loanamount = 20000; Initial Loan Amount$20,000
$apr = 0.12 ;percent interest per year, NOT PER MONTH!
$months = 15; How long until you pay all of it off
$pmt = pmt($apr,$months,$loanamount);; payment per month
msgbox(0,"Your Payment Per Month","If you pay "&$apr*100&"% APR, for "&$months&" months, on a $"&$loanamount&" loan, you will have to pay $"&$pmt[0]&" every month."&@CRLF&"This will end up costing you $"&$pmt[1]&" in interest costing you a total of $"&$pmt[2])

;// PV EXAMPLE (How much of a Loan you can Afford)
$pmt = 1442.475604; How much you can afford to pay per month
$apr = 0.12 ;percent interest per year, NOT PER MONTH!
$months = 15; How long do you want this loan
$pv = pv($apr,$months,$pmt);; payment per month
msgbox(0,"You can Afford","If you can pay $"&$pmt&" every month for "&$months&" months, at "&$apr*100&"% interest, you can afford a $"&$pv&" loan!")

func pmt($apr,$months,$pv)
$rate = $apr/12
$pmt1 = Round(abs($pv/((1-(1/(1+$rate)^$months))/$rate)),2)
$totalpayment = round($pmt1*$months,2)
$totalinterest = round($totalpayment - $pv,2)
local $pmt[3] = [$pmt1,$totalinterest,$totalpayment]
return $pmt
EndFunc

func pv($apr,$months,$pmt)
$rate = $apr/12
return round(ABS($pmt*((1-(1+$rate)^-$months)/$rate)),2)
EndFunc

Those are the 2 formulas with examples

If you dont understand something just by the code, if you run it it should make more sense. Or else just let me know ill explain it

Edited December 12, 2010 by DexterMorgan

[JoHanatCent 7]

This might be of interest:

[gseller 1]

Great Job! Looking forward to seeing the rest with a GUI.