payment formula

[swayto]

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.

[ChrisNZ]

I suspect you want

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

or

Payment=Amount*Rate/12/Months;

[Shmuel]

When you say wrong results, you should post

what you get and what you expect.

[swayto]

 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

[Shmuel]

Please explain what is wrong in the results.

What do expect the results to be ?