Android Question Pmt function

[Carthalion]

Is there a Pmt function that can be used to calculate a monthly payment?

 

[DonManfred]

What exaactly do you want to calculate?

 

[Erel]

This code is equivalent to Excel pmt function:

Sub pmt (Rate As Double, Nper As Double, Pv As Double) As Double
   If Rate = 0 Then
     Return - Pv / Nper
   Else
     Return Pv * Power(Rate + 1, Nper) * Rate / (1 - Power(Rate + 1, Nper))
   End If
End Sub

It is based on the code from Apache POI library.

 

[Carthalion]

What exaactly do you want to calculate?

I am trying to calculate a mortgage payment. If this was in .Net, the code would be
Pi = Pmt(IntRate / 12, Term, -LoanAmt, 0, 0).

I do not know what library to load for the Pmt function.

 

[Carthalion]

This code is equivalent to Excel pmt function:

Sub pmt (Rate As Double, Nper As Double, Pv As Double) As Double
   If Rate = 0 Then
     Return - Pv / Nper
   Else
     Return Pv * Power(Rate + 1, Nper) * Rate / (1 - Power(Rate + 1, Nper))
   End If
End Sub

It is based on the code from Apache POI library.

 

[DonManfred]

I do not know what library to load for the Pmt function.

See Erels answer. This seems to be the solution for your question. There is no library which does have a pmt function. But all you need is the sub above ;-)

 

[Carthalion]

See Erels answer. This seems to be the solution for your question. There is no library which does have a pmt function. But all you need is the sub above ;-)

Maybe I did this wrong: I tested using...

Sub pmt (Rate As Double, Nper As Double, Pv As Double) As Double
If Rate = 0 Then
Return - Pv / Nper
Else
Return Pv * Power(Rate + 1, Nper) * Rate / (1 - Power(Rate + 1, Nper))
End If
End Sub

Sub CalcPmt
Dim Pi As Double
Pi = pmt(.07,360, 100000)
lblPi.Text = Pi
End Sub

It gives the answer as 849, but a 100K loan amount with a 30 year payment at 7% is 665. What do you think?

 

[Carthalion]

Please disregard. You were right. The function works perfectly. I was the problem. This is a great program and I am just getting started with it. Thank you!