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Financial Calculations
Message
From
22/10/1998 10:38:50
 
 
To
21/10/1998 18:04:22
General information
Forum:
Visual FoxPro
Category:
Other
Miscellaneous
Thread ID:
00149151
Message ID:
00149404
Views:
21
>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
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