A = payment Amount per period P = initial Principal (loan amount) r= interest rate per period n= total number of payments or periods Example: What would the monthly payment be on a 15-year, $100,000 loan with a 4.50% annual interest rate? P = $100,000 r= 4.50% per year / 12 months = 0.375% (or 0.00375) per period n = 15 years * 12 months = 180 total periods A = 100,000 * (.00375 * (1 + .00375)180)/((1+.00375)!80 – 1)

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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I am trying to create a monthly mortgage calculator in C++, but i cannot get the function I am trying to create to work. The output it gives for the monthly payment is 53125 for a 150000 loan at 4.25% for 15 years. 

adouble CalcPayment(double P, double mi, double np, double A)
{
double A1;
double A2;
double A3;
A1 = pow((1 + mi), np);
A2 = P * (A1 * mi);
powC(1 + mi), np) - 1;
A = A2 / A3;
%3D
A3 =
return A;
}
Transcribed Image Text:adouble CalcPayment(double P, double mi, double np, double A) { double A1; double A2; double A3; A1 = pow((1 + mi), np); A2 = P * (A1 * mi); powC(1 + mi), np) - 1; A = A2 / A3; %3D A3 = return A; }
r(1+r)"
r(1+r)"
A = P
A = P
(1+ r)" – 1
(1+ r)* – 1
where
O (Ctrl) -
Page 1 e
CSIS
A = payment Amount per period
P= initial Principal (loan amount)
r= interest rate per period
n= total number of payments or periods
Example: What would the monthly payment be on a 15-year, $100,000 loan with a 4.50%
annual interest rate?
P = $100,000
r= 4.50% per year / 12 months = 0.375% (or 0.00375) per period
n = 15 years * 12 months = 180 total periods
A = 100,000 * (.00375 * (1 + .00375)180)/((1+.00375)180 – 1)
Transcribed Image Text:r(1+r)" r(1+r)" A = P A = P (1+ r)" – 1 (1+ r)* – 1 where O (Ctrl) - Page 1 e CSIS A = payment Amount per period P= initial Principal (loan amount) r= interest rate per period n= total number of payments or periods Example: What would the monthly payment be on a 15-year, $100,000 loan with a 4.50% annual interest rate? P = $100,000 r= 4.50% per year / 12 months = 0.375% (or 0.00375) per period n = 15 years * 12 months = 180 total periods A = 100,000 * (.00375 * (1 + .00375)180)/((1+.00375)180 – 1)
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