Please see the attached sql function question requiring an sql function to be written to calculate a mortgage APR. Below is an example of my function call, where I am calculating the monthly payment for a mortgage with a principal amount of $250,000, an APR of 4.125%, and a loan duration of 30 years:

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
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Please see the attached sql function question requiring an sql function to be written to calculate a mortgage APR.

Below is an example of my function call, where I am calculating the monthly payment
for a mortgage with a principal amount of $250,000, an APR of 4.125%, and a loan
duration of 30 years:
SELECT Morabito_05_monthlyPayment(250000.00, 0.04125, 30);
Be sure to follow the same format that I have used for specifying the input parameters;
namely, an APR of 4.125% should be specified as 0.04125 .

Write a SQL function that accepts a principal mortgage amount, an annual percentage
rate (APR), and the number of years a mortgage will be paid back over. Calculate the
associated monthly mortgage payment according to the following annuity formula:
А — Р
A - P (i + 1--1)
(1+i)" –1
where:
A = Monthly Payment Amount
P = Principle (Initial) Mortgage Amount
i= APR / 12 =Monthly Interest Rate
n = years
* 12 = Total Number of Payments
Be sure to specify that data types of the input arguments have enough significant digits to
account for realistic mortgage amounts (as large as in the millions of dollars) and APRS
(down to the sixth decimal place will be sufficient).
Transcribed Image Text:Write a SQL function that accepts a principal mortgage amount, an annual percentage rate (APR), and the number of years a mortgage will be paid back over. Calculate the associated monthly mortgage payment according to the following annuity formula: А — Р A - P (i + 1--1) (1+i)" –1 where: A = Monthly Payment Amount P = Principle (Initial) Mortgage Amount i= APR / 12 =Monthly Interest Rate n = years * 12 = Total Number of Payments Be sure to specify that data types of the input arguments have enough significant digits to account for realistic mortgage amounts (as large as in the millions of dollars) and APRS (down to the sixth decimal place will be sufficient).
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