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I'm in the process of creating a loan payment calculator within a form and looking to automate the calcuations.
The way we complete the calculation is original payment amount multiplied by orginal frequency, then divide that value by the new frequency.
So - original payment of $200 with a biweekly frequency that is being changed to weekly would be calculated as:
200 x 26 = 5200
5200 / 52 = 100 for the new payment
There would be four fields involved:
Field #1 - Original Payment Amount
- data is automatically inputted from system
Field #2 - Original Payment Frequency
- data is automatically inputted from system
Field #3 - Payment Frequency
- front end user would select one of the following frequencies:
1. Monthly
2. Biweekly
3. Accelerated Biweekly (this calculation is the monthly amt divided by 2)
4. Twice Monthly
5. Weekly
Field #4 - New Payment Amount
- value of calculation would populate in this field
I'm having a difficult time trying to figure out how this can be inputted as it's very complex.
Thank you!
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Set the following export values for these options in the drop-down, and then just divide (using the Simple Field Notation option in the Calculate tab of the total field) or multiply (using the SFN, or the built-in Product option) the various fields:
1. Monthly -> 12
2. Biweekly -> 26
3. Accelerated Biweekly (this calculation is the monthly amt divided by 2) -> 6
4. Twice Monthly -> 24
5. Weekly -> 52