RE: [PHP] Long Shot Question
[snip] This seems like a somewhat standard calculation for loans and interest bearing accounts. Does anyone know how to calculate the graduation factor? I've been able to figure out it's based off the loan term, loan balance, and initial interest rate. [/snip] It is called amortization ... -- PHP General Mailing List (http://www.php.net/) To unsubscribe, visit: http://www.php.net/unsub.php
Re: [PHP] Long Shot Question
On Tuesday 19 September 2006 10:20, Jay Blanchard wrote: [snip] This seems like a somewhat standard calculation for loans and interest bearing accounts. Does anyone know how to calculate the graduation factor? I've been able to figure out it's based off the loan term, loan balance, and initial interest rate. [/snip] It is called amortization ... I should have known that ;) That's what happens when you're looking too closely at a problem. thanks! -- Ray Hauge Programmer/Systems Administrator American Student Loan Services www.americanstudentloan.com 1.800.575.1099 -- PHP General Mailing List (http://www.php.net/) To unsubscribe, visit: http://www.php.net/unsub.php
RE: [PHP] Long Shot Question
[snip] [snip] This seems like a somewhat standard calculation for loans and interest bearing accounts. Does anyone know how to calculate the graduation factor? I've been able to figure out it's based off the loan term, loan balance, and initial interest rate. [/snip] It is called amortization ... [/snip] http://www.hughchou.org/calc/formula.html -- PHP General Mailing List (http://www.php.net/) To unsubscribe, visit: http://www.php.net/unsub.php
Re: [PHP] Long Shot Question
On Tuesday 19 September 2006 10:25, Jay Blanchard wrote: [snip] [snip] This seems like a somewhat standard calculation for loans and interest bearing accounts. Does anyone know how to calculate the graduation factor? I've been able to figure out it's based off the loan term, loan balance, and initial interest rate. [/snip] It is called amortization ... [/snip] http://www.hughchou.org/calc/formula.html Ah, I've already used that to construct my amortization table for the standard repayment type, but this repayment type was a bit different in that the payment changes, and I had to find out the rate of that change. I think what I was looking for was: http://en.wikipedia.org/wiki/Amortization_%28business%29 Thanks for the help -- Ray Hauge Programmer/Systems Administrator American Student Loan Services www.americanstudentloan.com 1.800.575.1099 -- PHP General Mailing List (http://www.php.net/) To unsubscribe, visit: http://www.php.net/unsub.php
Re: [PHP] Long Shot Question
On Tuesday 19 September 2006 10:34, Ray Hauge wrote: http://en.wikipedia.org/wiki/Amortization_%28business%29 Actually, Im not so sure that's what I was looking for. These loans are student loans, which differ slightly from mortgage loans. Usually the market determines the adjustment in an ARM loan, but these have to increase payment steadily so that the loan is still paid off by the end of the year. At least I think I'm on the right track now. -- Ray Hauge Programmer/Systems Administrator American Student Loan Services www.americanstudentloan.com 1.800.575.1099 -- PHP General Mailing List (http://www.php.net/) To unsubscribe, visit: http://www.php.net/unsub.php
Re: [PHP] Long Shot Question
On Tuesday 19 September 2006 10:38, Ray Hauge wrote: On Tuesday 19 September 2006 10:34, Ray Hauge wrote: http://en.wikipedia.org/wiki/Amortization_%28business%29 Actually, Im not so sure that's what I was looking for. These loans are student loans, which differ slightly from mortgage loans. Usually the market determines the adjustment in an ARM loan, but these have to increase payment steadily so that the loan is still paid off by the end of the year. I meant paid off at the end of the term... -- Ray Hauge Programmer/Systems Administrator American Student Loan Services www.americanstudentloan.com 1.800.575.1099 -- PHP General Mailing List (http://www.php.net/) To unsubscribe, visit: http://www.php.net/unsub.php
