HOWTO: Calculate Payments in FoxPro

ID: Q155692

The information in this article applies to:

Microsoft Visual FoxPro for Windows, versions 3.0, 3.0b, 5.0, 6.0

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))))

Additional query words:

Keywords : kbVFp300 kbVFp500 kbVFp600
Version : WINDOWS:3.0,3.0b,5.0,6.0
Platform : WINDOWS
Issue type : kbhowto