How To Make Loan Calculator For Financial Sites

Hi Friends...
Today I'm going to describe you How to make a good loan calculator.That returns you the TotalAmortization Amount and the total Time period in Months as well as in Years Also..
so now the time for having a look on the code and change it according to your need...Code is below:-


///

/// Purpose:This is used for calculating the MortgageLoan...
///

/// Sanjeev Chauhan
/// November 6,2008
///
///
protected void btnCalculate_Click(object sender, EventArgs e)
{
#region The Concept And Formula Derivation By Sanjeev

/*For this I have used the Following Formula Which I have Derived After a long calculation
BY USING THIS FORMULA WE CAN CALCULATE THE UNKNOWN TERM...
(1+ R/12)pow T = 12x/(12x-PR)
FOR CALUCULATING THE TOTAL MORTGAGE AMOUNT WE CAN USE THE FOLLOWING FORMULA
A =P(1+r/12)^T
OR U CAN SAY
A =P(1+r/12)^T

WHERE P= Primary Amount ,A=Final Amount ,T= Total Amount
R=Rate(rate/100(convert to points from %age)) ,x = MOnthly Installing Amount
*/

#endregion

double dblAmount, dblTotalAmt, dblInstallment, dblRate, dblTime;
dblAmount = Convert.ToDouble(txtAmount.Text);
dblInstallment = Convert.ToDouble(txtMontlypayment.Text);
dblRate = Convert.ToDouble(txtRate.Text) / 100;
double logBasevalue = 1 + (dblRate / 12);
double logValue = (12 * dblInstallment) / (12 * dblInstallment - (dblAmount * dblRate));
dblTime = Math.Log(logValue, logBasevalue);
double roundMonth = Math.Round(dblTime);
roundMonth = roundMonth < dblTime ? roundMonth + 1 : roundMonth;
double dblYear =roundMonth / 12;
double roundYear = Math.Round(dblYear, 1);
string strYear = Convert.ToString(roundYear);
dblTotalAmt = Math.Round((dblInstallment * dblTime), 2);
lblMonths.Text = roundMonth.ToString();
lblYears.Text = strYear.Substring(0, strYear.LastIndexOf('.') + 2);
lblTotalAmount.Text = dblTotalAmt.ToString();

}



Enjoy Blogging..

Sanjeev Chaudhary