- #1
Wilmer
- 307
- 0
I thought this was "INTERESTing".
You want to borrow a dollars, with monthly payment of p dollars, such
that you'll owe f dollars after making n payments, at monthly rate r%.
Example:
So, in example: a=3000, f=1000, p=522.56, n=4, r=.01
Devise a formula calculating p in terms of a, f, n, r
You want to borrow a dollars, with monthly payment of p dollars, such
that you'll owe f dollars after making n payments, at monthly rate r%.
Example:
Code:
MONTH PAYMENT INTEREST BALANCE
0 3000.00
1 -522.56 30.00 2507.44
2 -522.56 25.07 2009.95
3 -522.56 20.10 1507.49
4 -522.56 15.07 1000.00
Devise a formula calculating p in terms of a, f, n, r