Monthly repayment formula

  • Thread starter Thread starter Mehdi
  • Start date Start date
M

Mehdi

Hi,

Does anyone have a formula to calculate loan monthly repayments:

Example:

L = £5000 //Loan amount
P = 6.8% //APR
Y= 3 //Number of years

Monthly Repayment = ?

Thanks
 
Does anyone have a formula to calculate loan monthly repayments:
Click to expand...

You need to add a reference to Microsoft.VisualBasic Runtime, then use the
Microsoft.VisualBasic.Financial.Pmt function.
 
Hi,

double P = 5000; // Principal amount
double r = 0.068 / 12; // Interest rate per period eg. 6.8% per annum
double m = 3 * 12; // Number of Payments

double pmt = (P * r) / (1 - Math.Pow((1 + r), -m));

Hope this helps
 
Chris,

It worked perfectly, thanks a lot.

Also thanks to Mark for replying.


Best Regards


Mehdi
 
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