Re: Forumula for payments reducing as loan progresses

In article 
<1509f76b-b868-47fc-92ef-bbba061baf82@[EMAIL PROTECTED]
>,
 jgharston <jgh@[EMAIL PROTECTED]
> wrote:

> I'm updated some sample code for a tutorial and I've got
> working code for various loan calculations.
> 
> Dredging through my memory I'm sure I was taught back
> at school how to calculate repayments that go down as
> the remaining principal goes down. I can't find anything in
> my battered copy of Salles Hill & Anderson, and half an
> hour on the web gives me hundreds of "how to reduce
> your loan"-type adverts :)
> 
> My basic structure goes something like:
> for year=1 to term
>   for month=1 to 12
>     loan=loan+interest
>     loan=loan-repayment
>   next
> next
> 
> ...but how to calculate 'repayment'.

One way is for the current repayment to be loan/(number of repayments 
remaining, including this one).

A related way is for the current repayment to be the current interest 
plus (loan-interest)/(number of repayments...).

> Ta.

HTH

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