pow equation to calc monthly payment

  • Resolved lownotes

    (@lownotes)


    6 years, 11 months ago

    Hi, want to say thanks for such a cool plugin. My first time using but I’m sure not my last.

    I’m struggling with a pow formula to calc monthly house payment, this is what I have but not getting a result.

    13= Loan amt
    7= rate%
    8= term years

    pow(fieldname13*fieldname7/100/(1-(1+fieldname7/100)),-fieldname8*12)

    this is the formula I’m trying to create
    P = ( Pv * R ) / (1 – ( 1 + R )^( -n )

    I’ve tested my formula in a spreadsheet and I’m getting a value, with the calc I’m getting 0.

    Thanks!

Viewing 2 replies - 1 through 2 (of 2 total)
  • Plugin Author codepeople

    (@codepeople)

    Hello,

    Please, check the equation in your form, because I’ve tested your equation in my local website, and it is working fine:

    POW(fieldname13*fieldname7/100/(1-(1+fieldname7/100)),-fieldname8*12)

    Replacing the fields with the corresponding values:

    POw(13*7/100/(1-(1+7/100)),-8*12)

    and the result is: 1.1519620673170971e-107

    Best regards.

    Thread Starter lownotes

    (@lownotes)

    Thanks for your help. I think I was a bit off in my formula and also in my instructions. I’m sorry for the confusion.

    In the end this is what I ended up with in case anyone else has the same issue.

    prec(((fieldname13* (fieldname7/100/12)) / (1 – pow((1 + (fieldname7/100/12)),(-1 *fieldname8* 12)))),2)

    where
    fieldname13= Loan amt
    fieldname7= rate%
    fieldname8= term years

Viewing 2 replies - 1 through 2 (of 2 total)
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