PMT Function - 20% Down Payment 2.5% Closing Cost Cash Required To Close The Loan Principal And Interest

Feb 8, 2008

I need to code this with 20% down payment 2.5% closing costcash required to close the loan Principal and interest can be computed by call the PMT function, terms 30 years (360 months 2.5% Property tax 0.8% insurance monthly payment is equal to the sum of the principal and interest, property tax and insurance.

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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Dim buyername As String
Dim cartype As String

[code]....

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Here is my code:
<Global.Microsoft.VisualBasic.CompilerServices.DesignerGenerated()> _
Partial Class Form1
Inherits System.Windows.Forms.Form
'Declare Variables
Dim loanAmount As Double
Dim interestRate As Double
[Code] .....

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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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[Code]...

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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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Option Strict On
Public Class frmTickets

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[CODE]....................

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Public Sub AddItem(ByVal strName As String, ByVal dblCost As Double, ByVal intQuantity As Integer)
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End Sub

This is the translation i made but i don't think it is correct.

Public Sub AddItem(ByVal strName As String, ByVal dblPrice As Double, ByVal intQuan As Integer)
Dim items As Purchase() = Me.items
Dim itemCount As Integer = Me.itemsCount
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[CODE]...

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[Code]...

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Just Add to your form a richtextbox and a button.
Public
Class Form1
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]Code] .....

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Code I have so far below.
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[Code] .....
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[Code]...

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[code]......

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