How To Calculate Payments in FoxPro

Last reviewed: January 10, 1997
Article ID: Q155692

The information in this article applies to:

Microsoft Visual FoxPro for Windows, versions 3.0, 3.0b

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))))

REFERENCES

Visual FoxPro, Help file, version 5.0; search on: "PAYMENT()"

KBCategory: kbprg kbhowto
KBSubcategory: FxprgGeneral
Additional reference words: 3.00 3.00b kbdse vfoxwin

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Last reviewed: January 10, 1997
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