Hatrack River Forum: Alright for VB/Math Gurru's I humbly request some help.

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Posted by Blayne Bradley (Member # 8565) on :

I need to know what the mathamatical forumlai is for determine monthly payment and the sum of all payments.

example: I buy a car and i decide to pay in monthly payments and I choose the rate and the # of month's what is the formulai?

And the sum of all payments would be I geuss the average monthly payment * the # of months?

Posted by twinky (Member # 693) on :

In the monthly installment case, is there interest?

Posted by Blayne Bradley (Member # 8565) on :

umm yes I think I mentioned "rate".

Months = 48
MonthlyPay = Months * (Finance * (Rate / 12) * (1 + (Rate / 12) ^ 12)) / (((1 + (Rate / 12)) ^ 12) - 1)
lblMonthlyPay.Caption = Format(MonthlyPay, "currency")
SumPay = MonthlyPay * Months
lblSumPay.Caption = Format(SumPay, "currency")

Here's what i gots so far.

The problem I'm a small percantage of money below the total cost of the vehical (base price + options + taxes.

My payment looks right but I don't think is right my sum of payment should be higher not lower then my original.

Posted by Dagonee (Member # 5818) on :

Look up the Pmt() function.

Posted by Blayne Bradley (Member # 8565) on :

And thus google was invented... odd shows up as a negative, the number I think is right but looks... all negative.

Posted by Dagonee (Member # 5818) on :

There's a technical financial reason for that - just multiply by -1 and go with it. [Smile]

Posted by Blayne Bradley (Member # 8565) on :

kk, I handed it in and now I'm home as soon as I find a server I'll upload it and share my little program. I worked long and hard on it.