Knowledge Base

How To Calculate Payments in FoxPro

Article ID: 155692

Article Last Modified on 6/29/2004

Microsoft Visual FoxPro 3.0 Standard Edition
Microsoft Visual FoxPro 3.0b Standard Edition
Microsoft Visual FoxPro 5.0 Standard Edition
Microsoft Visual FoxPro 6.0 Professional Edition

This article was previously published under Q155692

SUMMARY

The PAYMENT() function in Visual FoxPro allows the user to calculate a payment amount per month based upon a fixed interest rate.

MORE INFORMATION

The following program displays the monthly payment for a 15-year home mortgage based upon an 8-percent interest rate:

   nTotal=100000  && total amount borrowed is $100000
   nRate=.08/12   && payment is made at the end of each month with fixed
                  && interest rate
   nPayments=180  && 180 months in 15 year period

   cDisplay=MESSAGEBOX("Your monthly payment is" ;
      +" "+"$"+ALLTRIM(STR(PAYMENT(nTotal,nRate,nPayments))))

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