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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!!!
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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. :rolleyes:
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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 :)
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theman32x thanks!!! for those links they were a grate help!!!
Thanks Again!!!
