Re: Sort of off topic, but please help?
Re: Sort of off topic, but please help?
- Subject: Re: Sort of off topic, but please help?
- From: Charles Srstka <email@hidden>
- Date: Wed, 23 Jan 2002 01:37:32 -0600
It would depend on whether you're calculating simple interest, compound
interest (in which case we'd need to know whether it's compounded
annually, monthly, etc.), or continuous interest.
You should be able to find the formulas for calculating interest in any
junior-high math textbook.
On Wednesday, January 23, 2002, at 12:36 AM, email@hidden wrote:
Hello all,
I'm trying to write my first official non-tutorial Cocoa program
(a loan calculator for my dad) and this question is directed towards
the business / math type of people.
Does anyone know of any way to calculate the interest rate of a loan,
paid monthly, when you know the initial principle, the monthly payments
made (interest + principle paid), and the number of years that the loan
lasts (12 payment periods per year)?
It's not really essential, but I would like to know this and I didn't
know where else to ask...
Thanks!
-Kevin
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