Annuity loan question s

*Hello, Can somebody help? I've to make the following function:

Find the monthly payment for a 30-year loan of $30.000 with an annual interest rate of 5,5%. The function should start with:

Function monthlypayment = annuity (presentvalue, annual interest, years)

Keep those the following things in mind:
- the interest rate won't change
- the montly interest is 1/12 of the annual interest

The function should produce a monthly amount of money and has to be negative.

Calculate the monthly factor as follows:

a = 1 + (0,01*p/12)

p is the annual interest*

[Yash]

what you have to ask in this??

[Walter Roberson]

what have you done so far and what problem did you encounter?

Answer 1

[Sean de Wolski]

Fex:Mortgage Calculator