Calculator Mortgage Payment Repayment Schedule
Q: I'm working on a CDrom for a real estate company, and they'd like to be able to put a "Mortgage Payment Calculator" on the disc. This would allow a prospective home buyer to enter his/her purchase price, or rather the amount of the loan, along with interest rate and length of the repayment schedule and the calculator would estimate their house payment with a reasonable degree of accuracy.
For example they'd type in $50,000 loan at 7.25% for 20 years, click an "enter" button, and the program would return the amount of their house payment based on that criteria.
Has anyone used anything like that and would you share your source with me? The realty company is not opposed to paying a modest license fee for use of same. I sure don't know how to create one so I'm going to have to find an existing one that I can incorporate into a director presentation.
A: Here is a function. Just put it in a movie script and call it as needed. There is no error handling included, but you could add some as desired. For example if you pass innappropriate values (negative numbers, letters, commas, etc) to the function, it will fail . If this is in a movie script, you can test it in the command window: type put calcMortgagePayment(100000,8,30) and press ENTER Result shows what the mortgage payment would be for a $100,000 loan at 8% for 30 years. Now for the disclaimer. Use this code at your own risk. Author is not responsible for any damages, losses, or inaccuracies. Code is provided as is, without warranty or guarantees, either expressed or implied. User should varify accuracy independently. .
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