Asp > Mathematics

Mortgage Amortization

Mortgage Amortization

<CENTER>
<%
Dim P 'Payment
Dim I 'Interest
Dim L 'Loan Term In Years
Dim J 
Dim N
Dim M
Dim H
Dim C
Dim Q
Dim X
'Set the Conter for the Ammoritization
X=0
'Hard Code Some Loan Values HERE
'Replace these with your variables
'Total of Loan Amount
P=100000
'Interest Rate
I=7
'Loan term in years
L=30
'Calculate Monthly Interest
J=I/(12 * 100)
'Length of loan in Months
N=L * 12
'Now the magic.....
M = P * ( J / (1 - (1 + J) ^ -N))
Response.Write "<B>Monthly Payment: " & Round(M, 2) & "</B><BR>"
Response.Write "<TABLE cellSpacing=1 cellPadding=1 width=""55%"" bgColor=silver border=0>"
Response.Write "<TD bgColor=#708090>Interest Paid</TD>"
Response.Write "<TD bgColor=#708090>Principal Paid</TD>"
Response.Write "<TD bgColor=#708090>Remaing Balance</TD></TR>"
Response.Write "<TR>"
'Loop through And Get the Monthly Paymen
' ts for the length of the loan 
Do While X < N
H=P*J
Response.Write "<TD bgColor=silver>" & Round(H, 2) & "</TD>"
C=M-H
Response.Write "<TD bgColor=silver>" & Round(C, 2) & "</TD>"
Q=P-C
Response.Write "<TD bgColor=silver>" & Round(Q, 2) & "</TD></TR>"
P=Q
X=X+1
Loop
%>
</TABLE>
</CENTER>