gmahler5th
asked on
Code to calculate monthly payment VB.net
I need to calculate my monthly payment given the loan principal, the percentage, and the terms. Here are my variables.
dblPrincipal = CDbl(txtPrincipal.Text)
dblRate = CDbl(txtRate.Text)
dblYears = CDbl(txtYears.Text)
dblPrincipal = CDbl(txtPrincipal.Text)
dblRate = CDbl(txtRate.Text)
dblYears = CDbl(txtYears.Text)
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SOLUTION
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maybe i did spend 6 months for nothing.... :-)
ASKER
Ronald, Thank you for sharing. I like the ease and flexibility of this function. I sort of hacked it up and put it in my own subroutine, and I am coming up with a monthly payment in the 10s of thousands. Can you look to see that I have used this function correctly?
'declare your variables here
Dim dblPrincipal, dblMonth, dblRateMonth, dblRate, dblYears, dblAmount As Double
Dim PVal, APR, FVal, Payment, TotPmts As Double
Dim Fmt As String
Private Sub btnCalculate_Click(ByVal sender As System.Object, ByVal e As System.EventArgs) Handles btnCalculate.Click
'assign the values from textboxes to the variables
PVal = CDbl(txtPrincipal.Text)
APR = CDbl(txtRate.Text)
TotPmts = CDbl(txtYears.Text)
dblMonth = dblYears * 12
dblRateMonth = dblRate / 12
'calculate the final amount as principal + interest
Fmt = "###,###,##0.00" ' Define money format.
FVal = 0 ' Usually 0 for a loan.
Payment = Pmt(APR / 12, TotPmts, -PVal, FVal)
'put the calculated amount in Payment Amount textbox
txtAmount.Text = Format(Payment, Fmt)
End Sub
'declare your variables here
Dim dblPrincipal, dblMonth, dblRateMonth, dblRate, dblYears, dblAmount As Double
Dim PVal, APR, FVal, Payment, TotPmts As Double
Dim Fmt As String
Private Sub btnCalculate_Click(ByVal sender As System.Object, ByVal e As System.EventArgs) Handles btnCalculate.Click
'assign the values from textboxes to the variables
PVal = CDbl(txtPrincipal.Text)
APR = CDbl(txtRate.Text)
TotPmts = CDbl(txtYears.Text)
dblMonth = dblYears * 12
dblRateMonth = dblRate / 12
'calculate the final amount as principal + interest
Fmt = "###,###,##0.00" ' Define money format.
FVal = 0 ' Usually 0 for a loan.
Payment = Pmt(APR / 12, TotPmts, -PVal, FVal)
'put the calculated amount in Payment Amount textbox
txtAmount.Text = Format(Payment, Fmt)
End Sub
dblPayment = dblPrincipal / ((1 - (1 + dblRateMonth) ^ -dblMonth) / dblRateMonth)