Calculation for Loan

1

Hi,
i am using this calculation for the calculation of the Monthly payments of a loan.

((A23*((A24/100)/12))/(1-((1+(A24/100)/12))^(-1*A25)))

Where A23 is my loan Amount
A24/100 is my interest rate 4.9 / 100
A25 is the number of months to calculate over.

So
A23= £5500
A24= 4.9
A25= 36
The Correct figure should be £164

I have created this exact formula in Excel and i get the correct number. However pasting the formula into Ragic gives me £8.14

I have no idea why, does anyone else ?

Thanks

2

Hi,

We currently do not support the use of negative exponents by using carets (^). You’ll need to use the math object: Math.pow(x,y). x will be your base value and y will be your power value, just like x to the power of y.

So for your case, the formula should be the following:
(A23*((A24/100)/12))/(1-(Math.pow((1+(A24/100)/12),((-1)*A25))))

For your exponential part that you’ll be using the math object:
x=(1+(A24/100)/12)
y=(-1)*A25)

If you have any questions, feel free to let us know.