topic Re: payment formula in SAS Programming

payment formula

swayto — Sat, 20 Apr 2019 03:43:43 GMT

Data loan;
Input Account Amount Rate Months;
Rate=rate/100;

Payment=Amount* Rate/12 *Months;
Format Amount Dollar8. Rate percent10.2;
Datalines;
1092 22000 10.00 60
1731 114000 9.50 360
1289 10000 10.50 36
3144 3500 10.50 12
;

My assignment statement payment gives me wrong results.

Re: payment formula

ChrisNZ — Sat, 20 Apr 2019 04:04:53 GMT

I suspect you want

Payment=Amount*Rate/(12*Months);

Payment=Amount*Rate/12/Months;

Re: payment formula

Shmuel — Sat, 20 Apr 2019 07:03:38 GMT

When you say wrong results, you should post

what you get and what you expect.

Re: payment formula

swayto — Sun, 21 Apr 2019 05:26:16 GMT

Obs Account Amount Rate Months Payment123456789

1092	$22,000	10.00%	60	11000.0
1731	$114,000	9.50%	360	324900.0
1289	$10,000	10.50%	36	3150.0
3144	$3,500	10.50%	12	367.5
1135	$8,700	10.50%	24	1827.0
1994	$18,500	10.00%	60	9250.0
2335	$5,000	10.50%	48	2100.0
3864	$87,500	9.50%	360	249375.0
3891	$30,000	9.75%	360	87750.0

Re: payment formula

Shmuel — Sun, 21 Apr 2019 06:41:39 GMT

Please explain what is wrong in the results.

What do expect the results to be ?