Word 2000 form field calculation HELP!!

  • Thread starter Thread starter Sochinski
  • Start date Start date
S

Sochinski

I am creating a writable form which includes the ability to autopopulate a
given field with a loans monthly payment amount. the Formula is:

Monthly payment = P r(1+r)^n / (1+r)^n-1

P is Principle(loan amount)
r is percentage rate
n is term of loan (months)

I seem to be having problems with word calculating to the power of n
I am doing this with text fields where the user supplies the loan amount (P)
and the term in years (ie: 15 or 30 years) and the annual percentage rate.
I want the monthly payment to be calculated.
What am i doing wrong????!!!!
Please help me.

Steve
 
Hi Sochinski,

Could you give us some examples, please, so that we can see what Word is
doing? (Most Wordies aren't accounting/financial experts, oddly enough; those
kind of people tend to work with Excel.) Also, which version of Word is
involved?
I am creating a writable form which includes the ability to autopopulate a
given field with a loans monthly payment amount. the Formula is:

Monthly payment = P r(1+r)^n / (1+r)^n-1

P is Principle(loan amount)
r is percentage rate
n is term of loan (months)

I seem to be having problems with word calculating to the power of n
I am doing this with text fields where the user supplies the loan amount (P)
and the term in years (ie: 15 or 30 years) and the annual percentage rate.
I want the monthly payment to be calculated.
Click to expand...

Cindy Meister
INTER-Solutions, Switzerland
http://homepage.swissonline.ch/cindymeister (last update Jun 8 2004)
http://www.word.mvps.org

This reply is posted in the Newsgroup; please post any follow question or
reply in the newsgroup and not by e-mail :-)
 
Steve,

With your formula, I think you would have to use something like:

{ =(P*r)*((1+r)^n)/((1+r)^n-1) }

Rember r is going to have to be converted from APR. I.e., 6% will need
to be changed to .06/12 or .005.
You could also use the shorter formula:

{ =P*r/(1-(1+r)^-360) }
 
Back
Top