Greetings my gurus in the house. I want to design a simple loan calculator application using VB 6. Its an assignment in school and I have started going through some tutorials by Sean Greasley to learn as I just know how to do simple calculator application that can add, substract or one CA + EXAM = TOTAL and Grade system (if, then). I am a newbie. Can anyone help me with this please I have have a very little time. Thanks so much guys in anticipation of your prompt and fabourable response

what is the formula for calculating the loan?

I think there are basically three or so pieces of information needed: the amount of the loan; the interest rate charged; and the length of time to repay the loan. So the form should have options to input this information.

You’ll need the following values of the loan payment calculation:
Number of Periodic Payments (n) = Payments per year times number of years
Periodic Interest Rate (i) = Annual rate divided by number of payments per
Discount Factor (D) = {[(1 + i) ^n] - 1} / [i(1 + i)^n]


Sample Loan Payment Calculation

Assume you borrow N100,000 at 6% for 30 years to be repaid monthly. What is the monthly payment?
n = 360 (30 years times 12 monthly payments per year)
i = .005 (6% expressed as .06 divided by 12 payments per year)
D = 166.7916 ({[(1+.005)^360] - 1} / [.005(1+.005)^360])
P = A / D = 100,000 / 166.7916 = 599.55

And then it will be computed for each much until the 360th month. Note that your Loan Balance decreases every month.

While doing some petty research I came accross something in VB called the pmt function. I think I need this but don't know how to use it.

I think there are basically three or so pieces of information needed: the amount of the loan; the interest rate charged; and the length of time to repay the loan. So the form should have options to input this information.

You’ll need the following values of the loan payment calculation:
Number of Periodic Payments (n) = Payments per year times number of years
Periodic Interest Rate (i) = Annual rate divided by number of payments per
Discount Factor (D) = {[(1 + i) ^n] - 1} / [i(1 + i)^n]


Sample Loan Payment Calculation

Assume you borrow N 100,000 at 6% for 30 years to be repaid monthly. What is the monthly payment?
n = 360 (30 years times 12 monthly payments per year)
i = .005 (6% expressed as .06 divided by 12 payments per year)
D = 166.7916 ({[(1+.005)^360] - 1} / [.005(1+.005)^360])
P = A / D = 100,000 / 166.7916 = 599.55

And then it will be computed for each much until the 360th month. Note that your Loan Balance decreases every month.

While doing some petty research I came accross something in VB called the pmt function. I think I need this but don't know how to use it.

[url][/url]I got a similar program online but I need someone to help me to edit it. Can anyone check this program out? I want to remove the weekly, and quarterly option under Payment period. Also the Downpayment text box and the pre- dollar sign attacthed to all amounts.

Pls change attachment to .zip

vb guys

If you need help you at least need to put up some code relevant to your project not ask for modification. If you need it from scratch I would advice you to hire someone to do it.

hello

I can develop the program for you. Check my samples at http://www.avo-soft.com/portfolio.php
or call 080370-58_471 or 08053120587

thanks