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  1. Jea
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       #1  
    If I have loan amount, interest rate, and term...what keys do I use along with that info to get the monthly payment amount?

    Thanks!!
  2. #2  
    I use this:
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  3. Jea
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       #3  
    There are a lot of apps out there that do what the linked app above does. However, I need to be able to do the following. I need to be able to define any 3 of the following 4 variables and solve for the missing.

    1.Loan amount 2.Interest Rate 3.Term of the loan 4.Payment Amount

    In other words if I have #4, #3, and #2...I need the loan amount solved.

    Does this make sense?

    THANKS!!
  4. gacajun's Avatar
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    #4  
    Use the dropdown to choose the Finance mode, then click the Edit Key. You'll have a window pop up that allows you to define what you know and click on the solve...that should do what you need.
    Nokia 6340i-->T600-->MPx220-->Imate SP5
    Cingular GSM, Northeast Georgia, USA
  5. Jea
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       #5  
    What do the abbreviations mean (PV, FV, and N) and what do i put there to solve for monthly payment?

    Thanks!!
  6. gacajun's Avatar
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    #6  
    PV = Present Value (the amount of the loan)
    FV = Future Value (set to 0)
    N = Number of Payments

    Example, mortgage loan for $100,000 for 15 years at 6% interest rate with monthly payments. Put in the following values:
    Payments/year = 12
    PV = 100,000
    FV = 0
    APR = 6
    N = 180

    Now click on Solve and your Payment (PMT) will show -843.85682804846 or 843.86 per month. The negative sign is a function of the equation used in the calculator, just ignore it for calculation purposes.

    Hope this helps.
    Nokia 6340i-->T600-->MPx220-->Imate SP5
    Cingular GSM, Northeast Georgia, USA
  7. Jea
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       #7  
    Perfect!! Thanks my friend!!
  8. #8  
    Where is the 'Solve' button?

    Quote Originally Posted by gacajun
    PV = Present Value (the amount of the loan)
    FV = Future Value (set to 0)
    N = Number of Payments

    Example, mortgage loan for $100,000 for 15 years at 6% interest rate with monthly payments. Put in the following values:
    Payments/year = 12
    PV = 100,000
    FV = 0
    APR = 6
    N = 180

    Now click on Solve and your Payment (PMT) will show -843.85682804846 or 843.86 per month. The negative sign is a function of the equation used in the calculator, just ignore it for calculation purposes.

    Hope this helps.
  9. #9  
    this is a easy program that will do what you want.

    http://www.palmgear.com/index.cfm?fu...=&prodID=15615

    jim
  10. #10  
    Quote Originally Posted by gacajun
    The negative sign is a function of the equation used in the calculator, just ignore it for calculation purposes.
    Many financial programs and calculators use the so-called sign convention for monies received (positive) versus monies paid out (negative). In the $100,000 loan example, you are receiving the $100,000 so it is entered as a positive number. The payments are negative, indicating you are paying them out.
  11. gacajun's Avatar
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    #11  
    Quote Originally Posted by Jea
    Perfect!! Thanks my friend!!
    Glad I could be of service. I have been the recipient of help from several of the people here on TC, just glad I could return the favor.

    Quote Originally Posted by Advance The Man
    Where is the 'Solve' button?
    Its at the bottom of the edit window that appears when you press the edit button on the calculator pad.

    Quote Originally Posted by PatrickS
    Many financial programs and calculators use the so-called sign convention for monies received (positive) versus monies paid out (negative). In the $100,000 loan example, you are receiving the $100,000 so it is entered as a positive number. The payments are negative, indicating you are paying them out.
    Sounds plausible to me, I just wanted to warn him of the negative value he would see on the payments.
    Nokia 6340i-->T600-->MPx220-->Imate SP5
    Cingular GSM, Northeast Georgia, USA

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