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A = payment Amount per period P = initial Principal (loan amount) r= interest rate per period n= total number of payments or periods Example: What would the monthly payment be on a 15-year, $100,000 loan with a 4.50% annual interest rate? P = $100,000 r= 4.50% per year / 12 months = 0.375% (or 0.00375) per period n = 15 years * 12 months = 180 total periods A = 100,000 * (.00375 * (1 + .00375)180)/((1+.00375)!80 – 1)

A = payment Amount per period P = initial Principal (loan amount) r= interest rate per period n= total number of payments or periods Example: What would the monthly payment be on a 15-year, $100,000 loan with a 4.50% annual interest rate? P = $100,000 r= 4.50% per year / 12 months = 0.375% (or 0.00375) per period n = 15 years * 12 months = 180 total periods A = 100,000 * (.00375 * (1 + .00375)180)/((1+.00375)!80 – 1)

Database System Concepts
Database System Concepts
7th Edition
ISBN:9780078022159
Author:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Publisher:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Chapter1: Introduction
Section: Chapter Questions
Problem 1PE
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I am trying to create a monthly mortgage calculator in C++, but i cannot get the function I am trying to create to work. The output it gives for the monthly payment is 53125 for a 150000 loan at 4.25% for 15 years. 

adouble CalcPayment(double P, double mi, double np, double A) { double A1; double A2; double A3; A1 = pow((1 + mi), np); A2 = P * (A1 * mi); powC(1 + mi), np) - 1; A = A2 / A3; %3D A3 = return A; }
Transcribed Image Text:adouble CalcPayment(double P, double mi, double np, double A) { double A1; double A2; double A3; A1 = pow((1 + mi), np); A2 = P * (A1 * mi); powC(1 + mi), np) - 1; A = A2 / A3; %3D A3 = return A; }
r(1+r)" r(1+r)" A = P A = P (1+ r)" – 1 (1+ r)* – 1 where O (Ctrl) - Page 1 e CSIS A = payment Amount per period P= initial Principal (loan amount) r= interest rate per period n= total number of payments or periods Example: What would the monthly payment be on a 15-year, $100,000 loan with a 4.50% annual interest rate? P = $100,000 r= 4.50% per year / 12 months = 0.375% (or 0.00375) per period n = 15 years * 12 months = 180 total periods A = 100,000 * (.00375 * (1 + .00375)180)/((1+.00375)180 – 1)
Transcribed Image Text:r(1+r)" r(1+r)" A = P A = P (1+ r)" – 1 (1+ r)* – 1 where O (Ctrl) - Page 1 e CSIS A = payment Amount per period P= initial Principal (loan amount) r= interest rate per period n= total number of payments or periods Example: What would the monthly payment be on a 15-year, $100,000 loan with a 4.50% annual interest rate? P = $100,000 r= 4.50% per year / 12 months = 0.375% (or 0.00375) per period n = 15 years * 12 months = 180 total periods A = 100,000 * (.00375 * (1 + .00375)180)/((1+.00375)180 – 1)
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