Index Linked Mortgage Function

[Yisman]

Hi
can anyone help me with a function for figuring out the monthly payment of a index-linked mortgage?
lets say the index rises approx 2% per year, how much extra will i pay for my mortgage?
i looked high and low. i did find some clculators, but no formulas or vb functions.
thanks

[CreganTur]

Are we working with stored data in a table or some sort of data source, or is this ad-hoc data being written into a form? Can you provide a little more detail on your request?

[Yisman]

hi
in the db table im storing motgage info, such as number of months of loan, average index rise per year, loan amount, etc.
on the form i need to give the user an approximate monthly return amount, how much he will be paying per month per X interest rate and Y index rate
thanks
(this is for a client who does mortgage advising)
ps. i like your lil action figures

[CreganTur]

If you only want this calculation to show on the form, then you can use VBA to compute the monthly payment. I don't know how your form is setup, so I can only make suggestions. In the On Curren tevent, you could place code that makes the calculation based on the values of the other objects on the form.

For example, let's say that the textbox that displays your interest rate is named InterestRate and the index textbox is named IndexRate. You could use code similar to this:


Me.MonthlyPayment = Me.InterestRate * Me.IndexRate

MonthlyPayment is the name of the textbox on your form where you want the Monthly Payment calculation to be displayed.

The calculation I provided is incomplete, but it should point you in the right direction.


ps. i like your lil action figures
Thanks, it was a fun project!