Create the PMT Function

[anandgupte]

Hi
I Need to create the PMT & the Rate Function. I have to use them in ASP and the Excel libraries cannot be used... (Company Policy)

I have tried the following for PMT; but am not sure whether it is right or wrong and would like input son the same

For PMT function

When the Type = 1
(LoanAmount-(LoanAmount*(MonthlyRate))) /(((1-(((1+MonthlyRate)^-12)))/MonthlyRate))

When Type = 0
LoanAmount /(((1-(((1+MonthlyRate)^-12)))/MonthlyRate))

For the Rate Function; I am not sure what to do; please send your comments / inputs on the same