Future Value formula

  • Resolved rvomedia

    (@rvomedia)


    9 years, 4 months ago

    Hello,

    First of all i’d like to say this plugin is amazing and has saved me so much time on a project.

    I’d like to know how to modify the formula for calculating the loan repayment.

    is it possible to implement the Future Value (FV) formula?

    where total repayable becomes = AmountBorrowed * (1+interestPercentage)^numberOfMonths

    Hello,

    First of all i’d like to say this plugin is amazing and has saved me so much time on a project.

    I’d like to know how to modify the formula for calculating the loan repayment.

    is it possible to implement the Future Value (FV) formula?

    where total repayable becomes = AmountBorrowed * (1+interestPercentage)^numberOfMonths

    e.g. 500k for a period of 6 months, will be calculated as: 500000 * (1+0.04)^6

    making the total: 632,659.51

    then the monthly payments will be total/numberOfMonths

    then the monthly payments will be total/numberOfMonths

    • This topic was modified 9 years, 4 months ago by rvomedia.
    • This topic was modified 9 years, 4 months ago by rvomedia.
Viewing 1 replies (of 1 total)
  • Thread Starter rvomedia

    (@rvomedia)

    9 years, 4 months ago

    figured it!

    Edited the code in quick-interest-slider.js from line 348 to:

    /*var primary = principal * (parseFloat(rates.primary) * .01);
    var primarytotal = principal + primary;*/
    var primary = parseFloat(rates.primary) * .01;
    var secondary = principal * (parseFloat(rates.secondary) * .01);
    var secondarytotal = principal + secondary;

    /*
    Compare trigger
    */
    var rate = ((term >= rates.trigger)? rates.secondary:rates.primary);
    // var interest = ((term >= rates.trigger)? secondary:primary);
    var interest = primary;
    var total = principal * Math.pow((1 + interest),term);
    //var repayment = (principal + interest) * rates.periodstep / term;
    var repayment = total / term;

    • This reply was modified 9 years, 4 months ago by rvomedia.
Viewing 1 replies (of 1 total)

The topic ‘Future Value formula’ is closed to new replies.