simple PHP calc

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ferric84

n00b
Joined
Jun 28, 2006
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14
I'm trying to write a basic PHP script to calculate car loans, just as a way of learning the language. I've wrote the part to calculate monthly payments, but does anyone know what the formula is to calculate a down payment, given monthly payments, interest rate, etc? THanks
 
Well, it is not a language specific question. You just need to know the actual math equations to figure out your car loan. At that point, you just need to know PHP's Arithmetic operators and maybe a couple math functions.

Very basic stuff (good to know) and most functions and operators span all c style languages.

Ninja edit: After rereading, it appears you are just asking for the formulas :) For that, check this out and additional google for car loan math formulas, I get thousands of results ;)
 
I think the amount of the down payment is variable - you could choose to pay a smaller down payment and spend more on finance charges, or a larger down payment and less finance charges.

 
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