IPmt function in Access 2003

  • Thread starter Thread starter Guest
  • Start date Start date
G

Guest

I am trying to calculate the monthly payments for a repayment mortgage using
the Pmt function

Pmt(sum([InterestRate]/1200),sum([MortgageTerm]*12),[MortgageAmount],0,0)

The result is always incorrect by about £200, I am checking my calculations
against online mortgage calculators and my own math. Can somebody tell me
where I am going wrong or suggest another way of calculating this.
 
Dave Clissold said:
I am trying to calculate the monthly payments for a repayment mortgage using
the Pmt function

Pmt(sum([InterestRate]/1200),sum([MortgageTerm]*12),[MortgageAmount],0
,0)

The result is always incorrect by about £200, I am checking my calculations
against online mortgage calculators and my own math. Can somebody tell me
where I am going wrong or suggest another way of calculating this.
Click to expand...

Dave Clissold,

Can you please provide the following?

The input data.

The output data.

The "correct" calculations.

The datatypes for [InterestRate], [MortgageTerm], and
[MortgageAmount].


Sincerely,

Chris O.
 
Back
Top