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LOAN.EKA
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1992-03-24
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658b
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17 lines
; Typical financial problem.
; Find how long it takes to reduce the balance to $100000 on a mortgage
; for a $150000 house if the down payment is $20000, the rate is 13%,
; and the montly payment is $2000.
dnpay = 20000 ; down payment
house = 150000 ; price of house
balance = FVAL(mrate,months,-2000,house-dnpay)
mrate = yrate / 12 ; monthly rate
years = months / 12 ; time in years
yrate = 0.13 ; yearly rate
balance = -100000 ; negative, since money is owed
years := 10 ; guess, in years
months := 120 ; guess, in months
DIGITS 10