How to write this formula in Quickbase?
Hello,
I hope someone with more experience can help me with this. I want to calculate a monthly payment for the loan using the following formula:
A= P * (r+(1+r)n )/((1+r)n - 1)
A= Monthly Payment, P= Loan Amount, r= Interest Rate, n= Payment Period. The part I am stuck with is (1+r)n
Do you have any ideas about the best way to make this formula work? Thank you.
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Aleksandra R.
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I hope someone with more experience can help me with this. I want to calculate a monthly payment for the loan using the following formula:
A= P * (r+(1+r)n )/((1+r)n - 1)
A= Monthly Payment, P= Loan Amount, r= Interest Rate, n= Payment Period. The part I am stuck with is (1+r)n
Do you have any ideas about the best way to make this formula work? Thank you.
------------------------------
Aleksandra R.
------------------------------
