Hi, I want this formula in pdf form. Can someone simplify, please?
I want to calculate the loan monthly payment.
I want to simplify it. I have three fields
Not everything can be simplified. Just use the formula from those sites.
Is rate added to monthly rate?
5 years * 12 month = 60 = 20000/ 60 =333.33*1.05(5%)= 350$ monthly rate?
Stop trying to simplify it. Use the formula as shown. Is the problem that you don't understand how to read it? You CANNOT implement a formula that you do not understand, and this is where I sometimes get stuck and need to go do more study.
Is it that you don't understand Especially the n Superscript, also written as ^n? Which means "to the power of n"?
Hi, I can write the formula myself. In excel it is very easy to do this calculation but in pdf form, I do not know how can I calculate ^n value.
to calculate x^y.
I will try out this.
++ In addition to the guidance provided by all others here,
Just curious, would you mind providing the formula that you're using in MS Excel?
Sometimes formulas in MS Excel have nested IF / IF ELSE functions to evaluate one or more conditions.
Yes, it is a monthly rate. The result of your calculation should be
Monthly Payment = $ 377.42 not $350. Thank you
Let's begin by defining which of the three loan payment calculation formulas do you really need to use.
In the links that you've shared, you have one formula that breaks down an example for a mortgage payment, the other one to calculate a vehicle loan.
The other link is an online loan calculator.
So first of all, which of these tasks are you inquiring about:
You can use this,just change field names if neccessary:
var a = Number(this.getField("Amount").value); var ir = Number(this.getField("Interest Rate").value); var lt = Number(this.getField("Loan Term").value); var n = lt*12; var i = ir/100/12; var total = (a*i*Math.pow(1+i, n))/(Math.pow(1+i, n)-1); if(a == "" || ir == "" || lt == "") event.value = ""; else event.value = total;