# Basic interest

• 10-07-2009
et tu brutal
Basic interest
K, My brain hurts... this shouldn't be this hard... im making it way more complicated than it has to be...

Inline comments explain what my code tries to accomplish, but i wanna add one more thing to it...

I need to know a way to calculate the total interest a user will have paid over the life of their loan.

any help would be greatly appreciated...
• 10-07-2009
tabstop
So, you know (or should know) how much they paid. You know how much they owe. How oh how could you calculate how much extra they paid more than what they owe?
• 10-07-2009
et tu brutal
like, okay....

the user inputs the total remaining balance on their loan

they then put in their annual interest rate (compounded monthly)

they then input how much they intend to pay each month

then, the program calculates how much their balance would be at the end of every month, including that interest.

i would like to know how i could sum up the total interest they paid and let them know "this is how much you paid in pure interest over the life of your loan."
• 10-07-2009
tabstop
Quote:

Originally Posted by et tu brutal
i would like to know how i could sum up the total interest they paid and let them know "this is how much you paid in pure interest over the life of your loan."

So, you know (or should know) how much they paid (total over the life of the loan). You know how much they owed. How oh how could you calculate how much extra they paid more than what they owe?