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#1 Montes_x   User is offline

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Visual Basic loan interest and principal calculator

Posted 25 November 2012 - 09:34 PM

I'm trying to get the program to output the principal paid out to and the interest paid towards a loan of $5000. No input is take its all been declared already.Monthly payment is correct at 430.33. However, principal and interest output is (interest) 23.6588644... and -453.991013030... (which are flipped in placement). The output should be a row of principal reflecting the amount principal paid out through out the 12 months and a second row displaying also the interest paid towards the loan of 5000 through the 12 months. When i run the code with just the area below count+=1 and above the if statement only one output is displayed. I'm confused why with the loop the number get mixed up.

   Private Sub calButton_Click(ByVal sender As System.Object, ByVal e As System.EventArgs) Handles calButton.Click
    Dim monthlyPayments As Double
    Dim bloanTotal As Double = 5000
    Dim rate As Double = 0.005
    Dim interest As Double
    Dim toPrincipal As Double
    Dim toInterest As Double
    Dim counter As Integer

        'calculate the montly payments.
        monthlyPayments =
    Financial.Pmt(0.06 / 12, 12, 5000)
        TextBox1.Text = monthlyPayments.ToString("C2")

        counter = counter + 1        'add one to the counter 
        interest = bloanTotal * rate    'calculate interest rate from payment that will only count as interest
        toInterest = monthlyPayments - interest 'amount of monthly payment going towards interest
        toPrincipal = monthlyPayments - toInterest ' amount of monthly payment going towards principal
        bloanTotal = bloanTotal - toPrincipal 'new balance after deducing principal from begining balance

        Label2.Text = toPrincipal.ToString & "      " &
                      toInterest.ToString &
                      ControlChars.NewLine ' concatinate principal and interest strings and create a new line

        If counter = 12 Then 'exit loop once counter has reached 12 and loan amount has reached zero
            Exit Do
        End If
End Sub

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Replies To: Visual Basic loan interest and principal calculator

#2 GunnerInc   User is offline

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Re: Visual Basic loan interest and principal calculator

Posted 25 November 2012 - 09:36 PM

please don't open duplicate topics
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