I need to know how to calculate loan payments...
like if i borrow $100,000 at 6.5% APR for 15years- what is my per month charge? - I need to know the math formula or just some code since I need to do this via PHP or Javascript...
It seems like a simple problem but I get stuck on this... I've seen some payment forms in javascript and they use loops that are complicated to understand...
I need to know how much I will pay in total after 15years or whatever payment period lasts and I need to know the monthly bill...
Remember, I think that the APR is calculated on the principal owed so as you pay the principal is reduced and tapers off --
I don't want 100,000 * (1.065^15), that's not how loans work...