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'This example uses the IPmt# function to calculate how much you will pay
'over the lifetime of a loan where all the payments are of equal value.
 
'Note: To run this example you must use a Quick library that includes the
'procedures contained in one of the financial function library files and
'the FORMATD$ function contained in one of the date/time/format function
'library files. The following include files must also be present.
 
'$INCLUDE: 'FINANC.BI'
'$INCLUDE: 'FORMAT.BI'
 
CONST ENDPER = 0
CONST BEGINPER = 1
CONST DOLLARFORMAT$ = "$###,###,###.00"
FutrVal = 0
DEFDBL A-Z
DIM St  AS INTEGER
 
CLS
INPUT "Enter the annual percentage rate of your loan"; APR
PRINT
INPUT "What is the principal amount of your loan"; PresVal
PRINT
INPUT "How many monthly payments do you have to make"; Periods
PRINT
 
DO WHILE PaymentTypeString$ <> "B" AND PaymentTypeString$ <> "E"
    PRINT "Are payments due at the beginning or end of the month? ";
    PaymentTypeString$ = UCASE$(INPUT$(1))
LOOP
 
'Set up the correct payment type.
IF PaymentTypeString$ = "B" THEN
    PaymtType = BEGINPER
    PRINT "Beginning"
ELSE
    PaymtType = ENDPER
    PRINT "End"
END IF
PRINT
 
'Put APR in proper form.
IF APR > 1 THEN APR = APR / 100
 
FOR Per = 1 TO Periods
 
    'Calculate the Interest paid each month.
IntPmt = ABS(IPmt#(APR / 12, Per, Periods, -PresVal, FutrVal, PaymtType, St))
 
    'Check for an error.
    IF St% THEN
        PRINT "There was a calculation error."
        END
    END IF
 
    'Accumulate a total.
    TotalInterest = TotalInterest + IntPmt
 
NEXT Per
 
TotalInterest$ = FormatD$(TotalInterest, DOLLARFORMAT$)
PresentVal$ = FormatD$(PresVal, DOLLARFORMAT$)
TotalPaid$ = FormatD$(TotalInterest + PresVal, DOLLARFORMAT$)
 
PRINT
PRINT "You'll pay a total of "; TotalPaid$; " on your "; PresentVal$
PRINT "loan, of which "; TotalInterest$; " is interest."