Solved

# Auto Loan Calculator Formula

Posted on 2013-10-25

Hi there,

I found this formula online, but when I use it, and compare the result to other auto loan calculators out there, my results are usually slightly lower, so I assume mine are incorrect. Here is the formula I'm using:

[HttpPost]

public ViewResult Index(double amount, double? payment, double apr, int term)

{

var months = term * 12;

var pc = apr / 100;

double dAPR = pc;

Int32 iNumberOfPayments = months;

double dLoanAmount = amount;

var end = (Financial.Pmt((dAPR / 100) / 12, iNumberOfPayments, dLoanAmount, 0, DueDate.EndOfPeriod) * -1);

var final = String.Format("{0:00}", end);

ViewBag.result = final;

return View();

}

Can someone help me out?

Thanks!