M
Michael Cooper
To All:
I have created a data base for my mortgage business.
Within the database is a section which can calculate a
clients house payments based on Rate-Term and Loan amount
(commonly refered to as P&I) or Principle and Interest. It
then can calculate the PITI by adding taxes and insurance
for a total house payment,
Problem: I have tried using an expression to write a
formula to calulate the PI, but have run into major
problems - Manly it won't work.
I have tried the calculation in a form and in a query.
Still no luck
I have written the formula several different ways in hopes
to be successful and am now turning to the forum for
assistance.
Here are the formulas I have used in the expresssion:=PMT
(rate,nper,pv,fv,type)
IN my database rate=rate (which is the percentage on the
loan)
nper=term (usually 360 months which is 30yrs)
pv= loan amount ($ amount being borrowed)
fv=0 (not applicable)
type=0 (not applicable)
Actual Code is =PMT([Rate],[Term],[LoanAmount],0,0)
If someone copuld lead my down the right path I appreciate
that
Coop
I have created a data base for my mortgage business.
Within the database is a section which can calculate a
clients house payments based on Rate-Term and Loan amount
(commonly refered to as P&I) or Principle and Interest. It
then can calculate the PITI by adding taxes and insurance
for a total house payment,
Problem: I have tried using an expression to write a
formula to calulate the PI, but have run into major
problems - Manly it won't work.
I have tried the calculation in a form and in a query.
Still no luck
I have written the formula several different ways in hopes
to be successful and am now turning to the forum for
assistance.
Here are the formulas I have used in the expresssion:=PMT
(rate,nper,pv,fv,type)
IN my database rate=rate (which is the percentage on the
loan)
nper=term (usually 360 months which is 30yrs)
pv= loan amount ($ amount being borrowed)
fv=0 (not applicable)
type=0 (not applicable)
Actual Code is =PMT([Rate],[Term],[LoanAmount],0,0)
If someone copuld lead my down the right path I appreciate
that
Coop