Get-Payment (modification of post by Stahler view diff)
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Calculates a loan payment amount given Loan Amount, Interest Rate/Period (i.e. 7.5%/12) and Total number of payments.
Get-Payment 20000 .00625 60
- function Get-Payment {
- param ( $LoanAmount, [double]$InterestRatePerPeriod, $NumberPayments )
- $a = $LoanAmount
- $b = $InterestRatePerPeriod*[math]::Pow(($InterestRatePerPeriod + 1),$NumberPayments)
- $c = [math]::Pow((1+$InterestRatePerPeriod),$NumberPayments) - 1
- $payment = $a*($b/$c)
- "{0:C}" -f $payment
- }
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