Help Required!

[Ramandeep]

I've go this exercise were I have to write a program to calculate the monthly payment that will pay off a loan.

The inputs are:

1. Loan Amount
2. Annual Percentage Interest Rate
3. Terms of Loan in Years

The program needs to carry out the following processing:

1. Validate entries assumiing sensible data (don't worry about this one).
2. For each month the program should calculate:-
> Interest Payment
> Principal Payment

2. For the last month calculate:-
> Principal Payment
> Final Payment

The Output should be:

1. Error messages for invalid data (don't worry about this .one)
2. Monathly Payment
3. Repayment Schedule, like bellow:

NOTE:
"|" = column seperator!

Payment Num | Total Payment | Interest Payment | PrincipalPayment | Balance

The programming side isn't really the problem, it's just that I'm not sure on the calculation the spec is not really clear to me. Perhaps I thinking to hard and deep about it?

Any one know how to calculate the above?

Please help ASAP thanks in advance!!!

[Yonatan]

I have never ever solved (or tried to solve) any financial problems. However, here is a list of financial functions available in VB:

DDB, FV, IPmt, IRR, MIRR, NPer, NPV, Pmt, PPmt, PV, Rate, SLN, SYD

I've never used those functions, but one of them might be useful for you. Check the help docs.

[Ramandeep]

Neither have I, that's why I've asked for some assistance I don't rally find them that stimulating!

Thanks for you help though Yonatan, greatly appreciated

[theman32x]

the following links might help u:

http://www.interest.com/hugh/calc/

http://www.interestratecalculator.com/

http://www.cut-the-knot.com/arithmetic/interest.html

http://www.goto.com/d/search/;$sessi...t+calculations

[Ramandeep]

theman32x thanks!!! for those links they were a grate help!!!

Thanks Again!!!