Finance Functions:
Making an Investment or Paying a Loan
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Finance Functions: |
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The Payment() function is used to calculate the regular payment of an investment. Its syntax is: Extended __fastcall Payment(Extended Rate,
int NPeriods,
constExtended PresentValue,
const Extended FutureValue,
TPaymentTime PaymentTime);
In the following examples, a customer is applying for a car loan. The car costs $15500. It will be financed at 8.75% for 5 years. The dealer estimates that the car will have a value of $2500 when it is paid off. The dialog box is used to calculate the monthly payment (the Payments edit box) that the customer will make every month:  |
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void __fastcall TForm1::btnCalculateClick(TObject *Sender)
{
Extended Present, Future, TheRate, Payments, NPeriod;
Present = StrToFloat(edtLoan->Text);
Future = StrToFloat(edtFuture->Text);
TheRate = StrToFloat(edtRate->Text) / 12;
NPeriod = StrToFloat(edtNPeriods->Text);
double Rate = TheRate / 100;
// Apply the function
Payments = Payment(Rate, NPeriod, -Present,
Future, ptStartOfPeriod);
// Display the payments
edtPayments->Text = FloatToStrF(Payments, ffCurrency, 8, 2);
}
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