>>>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
>
>
>
>Without analyzing your answer,
>
>$2643.14 * 36 = $95153.04
>
>This doesn't seem right.


Joseph: you are right. There is a mistake in the interest rate. Aditionally, the fomula should say


loan payment= (((PV/(1+i))-(FV/(1+i)^36)))*payment(1,i,36)

= 3,065.63