ECalcPad. Mortgage calculation sample. Calculator functions.
ECalcPad home Download ECalcPad free DataOdyssey Projects home DataOdyssey Express - Data Mining made easy EasySql4Fox - VFP adapt to SQL(MySQL,ORACLE) quickly

Functions. Mortgage calculation sample.

When an "Expression" cell is selected, Button_Func.gif (107 bytes) toolbar button is enabled. Click it to call the list of available functions.

ECalcPad_FuncList.gif (13246 bytes)

Select the needed function from the list and click "Select". The function will be inserted into current expression position. Almost all functions have an argument and some functions have several arguments described in the list. If you know the name and syntax of the needed function just type it into expression cell without calling the list.
There are two types of functions: mathematical and financial. Here is a sample of a popular mortgage calculation.

ECalcPad_Mortgage.gif (21247 bytes)

Input values are described as first lines. Three functions are used here:

PAYMENT(nPrincipal, nInterestRate, nPayments) - calculation of a monthly loan payment. Initial data: beginning principal of the loan, interest rate per period (if monthly payments are made on the loan but the interest rate is annual, divide the annual interest rate by 12), and total number of payments as years*12

FV(nPayment, nInterestRate, nPeriods) - returns the future value of a financial investment. Given: constant periodic payment (monthly in our sample), the periodic interest rate (if the interest rate is annual but the payments are made monthly, divide the annual interest rate by 12) , and the number of periods over which payments are made. FV( ) assumes that the periodic payments are made at the end of each period.

PV(nPayment, nInterestRate, nTotalPayments) - returns the present value of an investment.

Mortgage calculation is included into the program as a sample pattern.

See a more powerfull tools of mortgage calculation here.