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wrote a function using PostgreSQL, but I continue to get the wrong output. Can someone please help figure out what I could be doing wrong with my code? I must use PostgreSQL to write the fun

wrote a function using PostgreSQL, but I continue to get the wrong output. Can someone please help figure out what I could be doing wrong with my code? I must use PostgreSQL to write the fun

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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Hi,

I wrote a function using PostgreSQL, but I continue to get the wrong output. Can someone please help figure out what I could be doing wrong with my code?

I must use PostgreSQL to write the function.

Thank you!

1 CREATE OR REPLACE FUNCTION Moreno_03_monthlyPayment( 2 Principal NUMERIC (12,2), APR NUMERIC (6,0), 4 years INTEGER) RETURNS NUMERIC LANGUAGE plpgsql 7 AS 8. $$ DECLARE 10 i NUMERIC(6,6) APR/12; 11 n INTEGER = years * 12; 12 monthlyPayment NUMERIC (12,6); 13 ▼ BEGIN SELECT Principal * (i + (i/(POWER (1+i,n))-1)) INTO monthlyPayment; 14 15 16 RETURN monthlyPayment; 17 END; 18 $$; 19 20 SELECT Moreno_03_monthlyPayment(250000.00, 0.04125, 30) AS Monthly_Payment; Data Output Explain Messages Notifications monthly_payment numeric 1 -248890.666791 LO
Transcribed Image Text:1 CREATE OR REPLACE FUNCTION Moreno_03_monthlyPayment( 2 Principal NUMERIC (12,2), APR NUMERIC (6,0), 4 years INTEGER) RETURNS NUMERIC LANGUAGE plpgsql 7 AS 8. $$ DECLARE 10 i NUMERIC(6,6) APR/12; 11 n INTEGER = years * 12; 12 monthlyPayment NUMERIC (12,6); 13 ▼ BEGIN SELECT Principal * (i + (i/(POWER (1+i,n))-1)) INTO monthlyPayment; 14 15 16 RETURN monthlyPayment; 17 END; 18 $$; 19 20 SELECT Moreno_03_monthlyPayment(250000.00, 0.04125, 30) AS Monthly_Payment; Data Output Explain Messages Notifications monthly_payment numeric 1 -248890.666791 LO
Problems: 1. 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: A = p[i + a) (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). There are multiple people in the class with the same last name, so the following naming convention must be followed exactly. You must name your function: <LastName> <DOB DayOfMonth>_monthlyPayment Where <LastName> is your last name and <DOB DayOfMonth> is the day of the month you were born. This naming convention is merely meant to make the grading process easier, so that all of the functions, procedures, and triggers have unique names. How would I invoke this function? Below is an example of my function invocation (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.
Transcribed Image Text:Problems: 1. 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: A = p[i + a) (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). There are multiple people in the class with the same last name, so the following naming convention must be followed exactly. You must name your function: <LastName> <DOB DayOfMonth>_monthlyPayment Where <LastName> is your last name and <DOB DayOfMonth> is the day of the month you were born. This naming convention is merely meant to make the grading process easier, so that all of the functions, procedures, and triggers have unique names. How would I invoke this function? Below is an example of my function invocation (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.
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