asked on

HELP HELP CALCULAYE PAYMENT PER MONTH

AzraSound is it possible to email you project to understand??

WE are currently having troubles with this code.
Answer comes up wrong.

Need Help debugging PMT function.

URGENT Need Answer soon.

// Here is code used

Option Explicit
Dim intTval As Integer

Private Sub cmdCalc_Click()

Dim dblPval As Double, dblIval As Double, dblPayment As Double
'call function to determine # of payments

dblPval = txtPrincipal.Text
dblIval = Val(lstInterest().Text) / 10

If optTerm(0).Value = True Then
intTval = 24
End If

If optTerm(1).Value = True Then
intTval = 36
End If

If optTerm(2).Value = True Then
intTval = 48

Else
intTval = 60

End If

'formula for the payment total
' dblPayment = Pmt(dblIval / 12, intTval, dblPval)
'dblPayment = Pmt(dblIval / 12, dblPval, intTval)
lblPayment.Caption = dblPayment

txtPrincipal.SelStart = 0
txtPrincipal.SelLength = Len(txtPrincipal.Text)

End Sub

Private Sub Form_Load()
frmMthlyPay.Left = (Screen.Width - frmMthlyPay.Width) / 2
frmMthlyPay.Top = (Screen.Height - frmMthlyPay.Height) / 2

txtPrincipal.SelStart = 0
txtPrincipal.SelLength = Len(txtPrincipal.Text)
lstInterest.AddItem "7.00"
lstInterest.AddItem "7.25"
lstInterest.AddItem "7.50"
lstInterest.AddItem "7.75"
lstInterest.AddItem "8.00"
lstInterest.AddItem "8.25"
lstInterest.AddItem "8.50"
lstInterest.AddItem "8.75"
lstInterest.AddItem "9.00"
lstInterest.AddItem "9.25"
lstInterest.AddItem "9.50"
lstInterest.AddItem "9.75"
lstInterest.AddItem "10.00"
lstInterest.AddItem "10.25"
lstInterest.AddItem "10.50"
lstInterest.AddItem "10.75"
lstInterest.AddItem "11.00"
lstInterest.AddItem "11.25"
lstInterest.AddItem "11.50"
lstInterest.AddItem "11.75"
lstInterest.AddItem "12.00"

lstInterest.ListIndex = 14 ' assign default values
optTerm(2).Value = True

End Sub

Private Sub mnuFileExit_Click()

Unload frmMthlyPay

End Sub

Private Sub mnuFilePrint_Click()
cmdCalc.Visible = False
PrintForm
cmdCalc.Visible = True

End Sub

Private Sub mnuFormatBackground_Click()

dlgMonth.Flags = cdlCCRGBInit
dlgMonth.Color = txtPrincipal.ForeColor
dlgMonth.ShowColor
frmMthlyPay.BackColor = dlgMonth.Color

End Sub

Private Sub mnuFormatFont_Click()
dlgMonth.Flags = cdlCFScreenFonts

dlgMonth.FontName = lblPayment.FontName
dlgMonth.FontBold = lblPayment.FontBold
dlgMonth.FontItalic = lblPayment.FontItalic
dlgMonth.FontSize = lblPayment.FontSize

dlgMonth.ShowFont

lblPayment.FontName = dlgMonth.FontName
lblPayment.FontBold = dlgMonth.FontBold
lblPayment.FontItalic = dlgMonth.FontItalic
lblPayment.FontSize = dlgMonth.FontSize

End Sub

Private Sub mnuFormatInfo_Click()

dlgMonth.Flags = cdlCCRGBInit
dlgMonth.Color = txtPrincipal.ForeColor
dlgMonth.ShowColor
fraInfo.BackColor = dlgMonth.Color

End Sub

Thanks Slammer 14

AzraSound

Maybe you need to use the Val function when doing dblPval = txtPrincipal.Text

AzraSound

Also, why no index specified in dblIval = Val(lstInterest().Text) / 10 ??

slammer14

ASKER

Edited text of question.

AzraSound

you can email me if youd like
AzraSound@aol.com

wsh2

Here is a function to calculate Total Payment Amount. The syntax to use it is (rounding the result to 2 decimal positions)..

Dim curReturnValue as Currency
curReturnValue = Round(xTotalPaymentAmount(curPrinciple, dblAnnualInterestRate, intMonths), 2)

Eg.

curReturnValue = Round(xTotalPaymentAmount(10000, 7.5, 48), 2)

<----- Code Begin ----->

Private Function xTotalPaymentAmount _
(ByVal curPrinciple As Currency, dblAnnualInterestRate As Double, intMonths As Integer) _
As Currency

xTotalPaymentAmount = curPrinciple _
* ((1 + (dblAnnualInterestRate / 100)) _
^ (CDbl(intMonths) / 12))

End Function

<----- Code End ----->

ASKER CERTIFIED SOLUTION

AzraSound

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wsh2

Azrasound:
Although you have contributed greatly, this puppy is hardly done.. hence a comment may have been a little more appropriate.. <wink>. Yes.. this is a loan calculator.. but no, dblPval should not be negative as it is customary to show all numbers in there positive form.. <smile>.

------------------------------------

Yup.. he's got his share of bugz.. He's dividing his Interest rate by 10, rather than 100.. he probably should be using comboboxes rather than listboxes, so that the user can enter Interest Rates and / or Payment periods not listed.. his PMT function is compounding Monthly, rather than annually (but I suppose that may be ok).

The raw empiricism for calculating Total Payments based on an APR (Annual Percentage Rate) is in the function I included above. It accepts the annual percentage rate as most people key them ie. 7.50%. If you want the Monthly Payment amount, just divide the Total Payment Amount calculated by the number of Months.. <smile>.

AzraSound

actually in the way that the Pmt function is structured, the dblPval does need to be negative in accordance with the optional paramter 'fv' that when left out defaults to 0. fv tells us what the final amount should be after the last payment, and this being a loan, the values being added need to equal 0, thus requiring an initial value to be negative.

AzraSound

wsh2,
I think the confusion here is the fact that you are creating your own function and they are using the built in Pmt function =)

slammer14

ASKER

Adjusted points from 50 to 100

slammer14

ASKER

Personable and Informative help..!

AzraSound

I thought it almost got too personal after that Victoria comment...but thats neither here nor there =oP take care