Forum Discussion
Mortgage Payment Calculation
Hi, I've checked the forums....It doesn't appear it's possible to do mortgage amortization, but I'm wondering if it's possible just to calculate a simple monthly payment based on # years, rate, and price? I can't believe there's nothing in Power BI to do this--or so it appears (or DAX).
I modify my formula according to this article.
Assume the second line is :
you borrow 25000 at 0.0425 rate for 30 years,
then formula for part1-part3 are as follows:
monthly rate = [yearly rate]/12 part1 = POWER(1+[monthly rate],[years]*12)-1 part2 = [monthly rate]*POWER(1+[monthly rate],[years]*12) part3 = [part1]/[part2] Loan payment monthly = [loan amt]/[part3]Best Regards
MaggieCommunity Support Team _ Maggie Li
If this post helps, then please consider Accept it as the solution to help the other members find it more quickly.
10 Replies
Hi saturation
Could you show some data example or details of your requirement?
There are some examples of Mortgage Payment Calculation in Power BI:
https://community.powerbi.com/t5/Data-Stories-Gallery/Loan-Calculator/td-p/242585
https://www.youtube.com/watch?v=H65PLeAglBM
Best Regards
MaggieCommunity Support Team _ Maggie Li
If this post helps, then please consider Accept it as the solution to help the other members find it more quickly.The loan calculator is pretty close. Basically, here's what I've got (static data, no need for the sliders).
ID | Loan Amt | Years | Rate | Monthly Pymt | Interest
1 10000 5 .0375 | 150 | 20
2 25000 30 .0425 | 250 | 35
The Monthly Pymt and Interest columns are the data that I need....Thoughts?
saturation I calculated them as following. Can you please advise how did you arrive on those numbers for those two columns?
ID Loan Amt Years Rate FV # Months Monthly PMT 1 10000 5 0.0375 $12,021.00 60 $200.35 2 25000 30 0.0425 $87,140.88 360 $242.06
Hi saturation
Is this problem sloved?If it is sloved, could you kindly accept it as a solution to close this case?If not, please let me know.Best RegardsMaggie
