Mortgage Formula

[Guest]

How to calculate monthly repayment in Access for this following mortgage loan
on a multi tier rates environment (calculated on monthly basis)

Principle Amt - 100,000
Tenure - 25 years
Interest rates 1st year - 1.50%
2nd year - 5.00%
3rd year - 6.25%

Monthly repayment 1st year - ?
2nd year - ?
3rd year - ?

Appreciate your response..
- ?

 

[Guest]

I am assuming you are paying interest only, which would be quite easy. create
three text boxes Named as follows txtIntPmt, amount and Irate. Enter in the
control source property of the txtIntPmt =[amount] *[ Irate] /12 /100. All
you have to do is change the Irate .
If you are paying off the Principal suggest you look at the access help for
PMTfuction example