Thread: calcuations

the biggest one is the one that the teacher gave us to use. If that one is not correct it puts the rest of my calculations off. I have gone over and over this program and am not seeing the issues with the math. That is why i'm asking for some help. I don't see where i can make is simpiler.

Originally Posted by swoopy

One thing I've noticed is the interest rate (i) in that formula must be divided by 100 first. For example if you enter 12 (in percent) for the interest rate, then the formula requires 0.12. So what you could do is use another variable (maybe InterestRate) when the user enters it, then make i be (InterestRate/100).

Code:

//User enters interest rate
i = InterestRate / 100.;

Interest rates are in percent, and if there's one thing I recall from math class it's this:

"Percent Means Hundreths"

I wouldn't change that. I've got an amotization program around here, I'll see if I can dig it up.

Back in a bit.

Adak

I made some changes to the program and then ran it, it seemed to just calculate
a repayment very close to the interest, paying off next to nothing.
I plugged the figures into a calculator to calcualte the repayment on an interest only formula
and it came up with the same amount.
Is it the correct formula?

This seems to work. I have changed a few of the terms and fiddled with it a bit
but it should be easy to see what is what.

Code:

/*************************************************************  
File Name:     Tmitchellwk1
Descreption:   Display Loan Amortization Schedule
Date:          August 28th, 2006
Desinger;      Tabatha Mitchell
Assugnment:    week1
Fuctions:      None
**************************************************************/
#include <stdio.h>

/*Program to compute Amortization Schedule*/

main  ()
{
   
   int   TermLoan,  // length of the loan
         PaymentNumber,  //number of payments made
          Numberofmonths, //Number of months in the loan
         count,  
          n; //Letters used for the caculations
double   AmountPrinciple, //Amount paid on principle
         AmountInterest,  //amount paid to intrest
         LoanBlance, //amount owed on loan\ count,
         CurrentBlance,
          LoanAmount, //amount of the loan  
         InterestRate, //intrest rate on loan
           a,i,
           NewBlance, //amount of new amount owed
           PaymentAmount;  //amount paid to loan       
       
 //start of main program
   printf ("Please enter in loan amount, Term of Loan and Intrest Rate.\n");
   scanf  ("%lf%d%lf", &LoanAmount, &TermLoan, &InterestRate);
   
   CurrentBlance = LoanAmount;
   Numberofmonths = TermLoan * 12 ;  //calculate numbers of months
   i = InterestRate;
   n = Numberofmonths;
   a = CurrentBlance;
   NewBlance=a;
   
printf ("\nAmortization Schedule\n");
printf ("_____________________\n");
printf ("PaymentNumber, LoanBlance, PaymentAmount, AmountPrinciple, AmountInterest, NewBlance\n");
 PaymentNumber = 0;  
   count =0;
   
      while(PaymentNumber < Numberofmonths) //start of while loop
        { 
         
           PaymentAmount = a*(i/12)*pow((1+i/12),n)/(  pow((1+i/12),n) -1);
           PaymentNumber++; //Start number of months for amortization schedule
           count++; //Start counter for displaying specific number of payments
           AmountInterest =  NewBlance * i/12;
           AmountPrinciple =  PaymentAmount - AmountInterest;
           NewBlance =  NewBlance -  PaymentAmount + AmountInterest;


          printf ("Payment No %.2d  ",  PaymentNumber);
           printf ("  Payment Ammt %.2lf", PaymentAmount);
          printf ("  Amount prin %.2f ", AmountPrinciple);
          printf  ("  Princiople Int %.2lf ", AmountInterest);
          printf ("Newbalance %.2f\n", NewBlance);

      
        }  //end of while loop 

/* getchar ();*/
getchar ();
printf ("hit enter to end");
return 0;         
}

Output:-

Please enter in loan amount, Term of Loan and Intrest Rate.
30000 25 0.070

Amortization Schedule
_____________________
PaymentNumber, LoanBlance, PaymentAmount, AmountPrinciple, AmountInterest, NewBlance
Payment No 1 Payment Ammt 212.03 Amount prin 37.03 Princiople Int 175.00 Newbalance 29962.97
Payment No 2 Payment Ammt 212.03 Amount prin 37.25 Princiople Int 174.78 Newbalance 29925.72
Payment No 3 Payment Ammt 212.03 Amount prin 37.47 Princiople Int 174.57 Newbalance 29888.25
Payment No 4 Payment Ammt 212.03 Amount prin 37.69 Princiople Int 174.35 Newbalance 29850.56
Payment No 5 Payment Ammt 212.03 Amount prin 37.91 Princiople Int 174.13 Newbalance 29812.66
Payment No 6 Payment Ammt 212.03 Amount prin 38.13 Princiople Int 173.91 Newbalance 29774.53
Payment No 7 Payment Ammt 212.03 Amount prin 38.35 Princiople Int 173.68 Newbalance 29736.18
Payment No 8 Payment Ammt 212.03 Amount prin 38.57 Princiople Int 173.46 Newbalance 29697.61
Payment No 9 Payment Ammt 212.03 Amount prin 38.80 Princiople Int 173.24 Newbalance 29658.81
Payment No 10 Payment Ammt 212.03 Amount prin 39.02 Princiople Int 173.01 Newbalance 29619.79
<<<snipped for brevity>>>
Payment No 296 Payment Ammt 212.03 Amount prin 205.96 Princiople Int 6.08 Newbalance 835.91
Payment No 297 Payment Ammt 212.03 Amount prin 207.16 Princiople Int 4.88 Newbalance 628.75
Payment No 298 Payment Ammt 212.03 Amount prin 208.37 Princiople Int 3.67 Newbalance 420.39
Payment No 299 Payment Ammt 212.03 Amount prin 209.58 Princiople Int 2.45 Newbalance 210.80
Payment No 300 Payment Ammt 212.03 Amount prin 210.80 Princiople Int 1.23 Newbalance 0.00
hit enter to end

A key point is the extra brackets added to

Code:

PaymentAmount = a*(i/12)*pow((1+i/12),n)/pow((1+i/12),n) -1;

to get :-

Code:

PaymentAmount = a*(i/12)*pow((1+i/12),n)/(  pow((1+i/12),n) -1 );

Looks like you've got it ol' chap!! :P

Congrats!

Adak