I use this code to calculate out a monthly payment for
home loans.
Given the Loan Amount, Interest Rate, and Term in
years, it will return the monthly payment (Principal +
Interest).
HTH
Marlon
function CalculateIt(LoanAmount,
InterestRate,Years) {
MonthlyInterestRate =
(InterestRate / 100) /12;
var Multiplier = 1 + MonthlyInterestRate;
var TermRate = 1;
for (var x=0;x<(Years*12);x++) {
TermRate = TermRate * Multiplier;
}
var PrincipalInterest = (LoanAmount * MonthlyInterestRate) / (1 - (1/TermRate));
PrincipalInterest = Math.floor(PrincipalInterest * 100) / 100;
return PrincipalInterest;
}
var Multiplier = 1 + MonthlyInterestRate;
var TermRate = 1;
for (var x=0;x<(Years*12);x++) {
TermRate = TermRate * Multiplier;
}
var PrincipalInterest = (LoanAmount * MonthlyInterestRate) / (1 - (1/TermRate));
PrincipalInterest = Math.floor(PrincipalInterest * 100) / 100;
return PrincipalInterest;
}
-----Original Message-----Does anyone have a good payment plan code snippet they would like to share? If possible a 30 year payment plan?
From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED]]On Behalf Of [EMAIL PROTECTED]
Sent: Thursday, September 12, 2002 2:28 PM
To: [EMAIL PROTECTED]
Subject: General Question
Thanks in advance
Your Island_girl
