Attn: Airtable Ninja - My base must calculate a Mortgage Payment


#1

Hello :brain:,

My base is begging for a PMT or Payment function, but there isn’t one I can find… I am hoping someone has found a workaround to calculate a mortgage payment. Kind of critical to our client and sales processes.

I realize this is not a spreadsheet, but other databases can do it. I see there are plenty of math functions… is anyone able to put them together in a way to “make” mortgage payment function?:

Would you be interested in being PAID to solve this for me?

My Airtable Base is very depressed.

a spreadsheet example looks like this:


…where MONTHLY PAYMENT (PI) in the middle is the result I’m talking about… because to get that payment I must use the fields before it and a PMT function … like this
09%20AM

So i ask, has anyone been able to put together the mathematical functions in a way to “make” a mortgage calculation?


#2

Assuming we have fields Monthly Interest Rate (as a decimal not a percentage), Number of Monthly Payments, and Loan Amount, then the formula in the Monthly Payment field should be something like:

( {Monthly Interest Rate} * {Loan Amount} ) / (1 - POWER( ( 1 + {Monthly Interest Rate} ), - {Number of Monthly Payments} ) )

You’ll need to check this. I have just taken the formula from the wikipedia article https://en.wikipedia.org/wiki/Mortgage_calculator#Monthly_payment_formula


#3

Hi David, sorry for the slow response…

I just wanted you to know this WORKS AWESOME!! This is a great asset to keep in the community! For anyone trying to use it, the 1st time i typed it in it didn’t work, but when i removed the spaces between things it did. there was something about copy and paste that made it appear it wasn’t going to work, but it really does.

again. this was really important to us. If you have a way to compensate you for your answer, id be happy to as promised.


#4

No problem. There’s no need to compensate me; It didn’t take much time at all. You could make a donation to something like UNICEF if you were really keen to pay somebody.