Months For Payment Of Loan

Nov 10, 2010

I have the following problem: I get a credit loan for 2500 with 10 percent interest rate. I pay $150 a month to pay off the loan. How many months does it take to pay off the loan? I also have to show the new balance at every step. Well I know it's 19 months in this case. I tried to do it, but I get many arithmetic overflow errors!!

Here is my code so far:
Dim loan As Integer = 2500
Dim intrate As Double = 0.1
Dim payment As Integer = 150
Dim interest As Double
Dim newbalance As Double
[Code] .....

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Months For Payment Of A Loan

Nov 10, 2010

I get a credit loan for 2500 with 10 percent interest rate. I pay $150 a month to pay off the loan. How many months does it take to pay off the loan? I also have to show the new balance at every step Well I know it's 19 months in this case. I tried to do it, but I get many arithmetic overflow errors!![code]

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I need to calcuate the button Also I need to be able to concatenate "Your monthly payment is (whatever the principal amount is) loan for(years) years at a rate of (whatever the %) is $ (whatever the monthlyPaymen)

[Code]...

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I have attached my project.

I am not getting any input from my teacher and the book does not say much about this

Attached File(s)

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Public Class HarlessSmithIA3

Dim LoanAmt, Int, Result, Term As Double
Dim txtIntRate As New Object
Dim txtLoanAmount As New Object
Dim txtLoanTerm As New Object
Dim txtMonthlyPayment As New Object

[CODE]...

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Dim buyername As String
Dim cartype As String

[code]....

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Dim fine As Double

[Code]....

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[Code]...

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Month Amount Owed
1 $452.63
2 $341.16
3 $228.57
4 $114.86
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[Code]...

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o change this template use Tools | Options | Coding | Edit Standard Headers.'

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Public Partial Class MainForm

[code].....

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For period As Integer = 1 To mPayments
iPayment = IPmt(APR, period, mPayments, -PVal, FVal, 1)
pPayment = PPmt(APR, period, mPayments, -PVal, FVal, 1)
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[Code] .....

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Private Sub btncalculate_Click(ByVal sender As System.Object, ByVal e As System.EventArgs) Handles btncalculate.Click
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[CODE]...

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Here is my code:
<Global.Microsoft.VisualBasic.CompilerServices.DesignerGenerated()> _
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Inherits System.Windows.Forms.Form
'Declare Variables
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Dim interestRate As Double
[Code] .....

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Code:
Dim rate As Decimal
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[CODE]...

I have attached a jpeg of what the end result should look like when code is being run.

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[Code]...

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