Hi,
I am trying to work our Loan payment using pl/sql
I am trying to write a procedure that takes as input :-
1) Loan amount e.g. 5000
2) APR rate e.g 24.9%
3) period/installment e.g. 11 months
And I want returned or calculated:-
1) total cost of loan
2) Installment amount (even spread over the period passed in).
I cant for the life of understand the formula for the calculation. I think the formula was standardized by the OFT in the Acts
I dont mind what procedural language its written in, cos i can always convert it to pl/sql
cheers
css_jay99
I am trying to work our Loan payment using pl/sql
I am trying to write a procedure that takes as input :-
1) Loan amount e.g. 5000
2) APR rate e.g 24.9%
3) period/installment e.g. 11 months
And I want returned or calculated:-
1) total cost of loan
2) Installment amount (even spread over the period passed in).
I cant for the life of understand the formula for the calculation. I think the formula was standardized by the OFT in the Acts
I dont mind what procedural language its written in, cos i can always convert it to pl/sql
cheers
css_jay99
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