Amortization Calculations

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Faisal Velani

• March 09, 2015 17:44

I am trying to calculate mortgage payments in Podio. The formula is P=((r(1+r)^n)/((1+r)^n-1)). My issue is Podio will not raise to a certain power. I have a field number of units = 10. When I input @number of units^2 the result is 8. When I change the 2 to a 5, it equals 15. Does anyone have a workaround for this? Also, is there a better way to calculate mortgage payments? Thank you.

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  Faisal Velani

  • March 09, 2015 17:46

  Sorry the formula was entered wrong. It is P((r(1+r)^n)/((1+r)^n-1)). P = principal, r = rate period, n = total number of payments or periods.

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  Hamid

  • March 10, 2015 08:24

  Hi Faisal,
  Try with this :

  
  var p = @principal
  var r = @rate period
  var n = @total number of payments
  var r1 = 1+r
  var r2 = r*r1
  var n1 = n-1
  var c1 = pow(r2, n)
  var c2 = pow(r1, n1)
  var result = p*(c1/c2)
  result
  

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  Faisal Velani

  • March 10, 2015 14:34

  comes back with "pow is not defined"

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  Faisal Velani

  • March 10, 2015 14:41

  also, I have no idea how to do java scripting. Will need some hand holding on this.

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  Hamid

  • March 10, 2015 14:53

  Sorry,
  Try to replace 'pow' by 'Math.pow' like this :

  var c1 = Math.pow(r2, n)
  var c2 = Math.pow(r1, n1)

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  Hamid

  • March 10, 2015 15:49

  
  var p = @principal
  var r = @rate period
  var n = @total number of payments
  var r1 = 1+r
  var r2 = r*r1
  var n1 = n-1
  var c1 = Math.pow(r2, n)
  var c2 = Math.pow(r1, n1)
  var result = p*(c1/c2)
  result.toFixed(2)
  
  

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  Faisal Velani

  • March 10, 2015 16:03

  "the script resulted in infinity" error

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  Faisal Velani

  • March 10, 2015 16:04

  for c1= Math.pow (r2, n)

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  Hamid

  • March 10, 2015 16:08

  Have you added .toFixed(2)
  (2) is the number of digits after comma

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  Faisal Velani

  • March 20, 2015 22:54

  This worked. Thank you.

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  Brian Sinclair

  • September 24, 2015 13:55

  HELP* -- I need calculations for mortgage loans --

  If I know the following:
  1) Loan Amount = $100,000
  2) Interest Rate = 1%
  3) Loan Amortization Period = 30 years
  4) Loan Term = 5 years

  I need calculations to produce the following results:
  1) Monthly Payment
  2) Total Interest Paid during "Loan Term"
  3) Amortized Loan Balance at the end of "Loan Term"

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  Luke Holcomb

  • January 28, 2016 10:32

  Hey Gang, I have tried to use this and for some reason everything comes up 0.00 

   

  var p = @Offer
  var r = .06/12
  var n = 20*12
  var r1 = 1+r
  var r2 = r*r1
  var n1 = n-1
  var c1 = Math.pow(r2, n)
  var c2 = Math.pow(r1, n1)
  var result = p*(c1/c2)
  result.toFixed(2)

   

  I have also tried 

  var p = @Offer
  var r = .06
  var n = 20
  var r1 = 1+r
  var r2 = r*r1
  var n1 = n-1
  var c1 = Math.pow(r2, n)
  var c2 = Math.pow(r1, n1)
  var result = p*(c1/c2)
  result.toFixed(2)

  this is a bit out of my wheel house. any help is much appreciated

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  Rainer Grabowski

  • January 28, 2016 12:59

  The problem seems to be var c1

  The result .06 to be the power of 20 has to many .0000 . It seems Javascript can't handle that.

  C2 works. 

  Rainer

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  Luke Holcomb

  • January 29, 2016 19:24

  Hey gang, 

  just an update. I rewrote the equation and got it to work. I seemed to have a problem with the script and had to delete the calculation field and start over, but all in all below is my info for group benefit. 

  p = principle

  r = rate

  n = years

  The Formula that I used was:

  p * ( (r/12) / (1-(1+(r/12) )^(n*12) ) )

  The code was:

  var p = @Offer
  var r = .06
  var n = 20
  var r1 = (r/12)
  var n1 = -(n*12)
  var r2 = 1+r1
  var c1 = Math.pow(r2, n1)
  var result = (p*(r1/(1-c1)))
  result

   

  thanks guys

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  Joshua MIller

  • July 09, 2017 20:14

  This post really helped me.  Thanks!

   

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