Interest Calculation in Query returning #Error

[ldare2000]

Hi

Can any one see what I've done wrong here:
BalanceBeforeAnyPayments: (FV([Monthly Interest Rate],[MonthsOfDebt],0,[Amount Borrowed],0))

This lives in the Field now of a query?

Can any one also confirm, the second section of date is for
"Nper is the total number of payment periods in an annuity." Is this the total number of payments since day 1.

The third value "Pmt is the payment made each period; it cannot change over the life of the annuity. Typically, pmt contains principal and interest but no other fees or taxes. If pmt is omitted, you must include the pv argument." Should this contain the normally monthly payment ie £110 a month?

Thanks in advance.
Louis

 

[ldare2000]

I think I've got it to work now..... but the maths is wrong. In my test:
BalanceBeforeAnyPayments: -(FV([Monthly Interest Rate],[MonthsOfDebt],0,[Amount Borrowed],0))

Monthly Interest Rate is 0.4123, the MonthsOfDebt is 11 and the AmountBorrowed is 1000. However my calculation results £46,600(ish) - I'm no loan shark LOL but I think something is wrong here!

 

[ldare2000]

I've changed interest rate to Percentage LOL

 

[vbaInet]

Lol looks like you've been talking to yourself here so I thought I should join in hehe! Yes you were charging almost 40% and it seems also that you wanted 1000 every month. Not so sure about what the function means though, finance terms.