I am a novice user of filemaker so you anyone out there who can advise me on this. This calcution is to simply determine the monthly payment for a loan scheme with the (amount loan) and the (payable periods) of 12 , 24 ,36 or 48 months with an (interest) of 3.5% or 5%. Finally, the results would then be the (monthly payment). How would I go about stating the script? Thanks a million for those who help me out.

FileMaker Version: 5

Platform: Windows XP

Set field [monthly payment, PMT (amount loan, interest, payable periods) ]

Set your amount loan, interest, and payable periods, and run the script. Or you could just make monthly payment a calculated field.

Thanks again Fitch!

seems like the calculation is wrong. I set this script in the scriptmaker and set its field under (monthly payment). The results is not right

From the online help:

PMT (Payment) function

Format

PMT (principal, interest rate, term)

Parameters

principal - principal amount

interest rate - interest rate. If the interest rate is annual, divide the rate by 12.

term - length of time, expressed in number of months

Data type returned

number

Description

Calculates the payment required to meet the requirements of the term, interest rate, and principal you supply.

Examples

In the following example, PMT is being used to calculate payments for purchasing a sports car costing $21,000, at an annual rate of 6.9% over 48 monthly payments.

PMT(21000, .069/12, 48) returns the payment amount $501.90.

PMT(Cost, .13, Years) returns a payment amount, based on the purchase value stored in Cost, at a 13 percent rate, over the duration stored in Years.

"Your payment will be " & PMT(150000, .13 / 12, Months) & "." returns Your payment will be, followed by the payment amount, based on a total cost of $150,000, at a 13 percent annual percentage rate, over the duration stored in Months.

hehehe got it this time