>Is there a way to solve for a loan payment with VFP 5 when a residual is involved?
>
>Example PV or Principal = $100,000
> Term = 36 Months
> Interest Rate Compounded Monthly = 10%
> FV or Residual = $5,000
> Monthly Payment Due on the 1st = ?
I think what you need is:
i=.10/12 n=36 monthly payment due on the 1st
payment= (((PV/(1+i))-(FV/(1+i)^36)))/payment(1,i,36)
In your case, Payment=2,643.14
Rosendo J. Roche