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Calculates the monthly payments of a loan
License
pqrs/phploan
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Provides some functions to:
- Calculate the amount of every monthly payment based on the loan principal, interest rate and number of payments.
- Calculate the loan principal based on the number of payments, interest rate and payment amount.
- Calculate the number of payments based on the principal, interest rate and payment amount.
Also provides a method to return the loan payment schedule.
composer require pqrs/phploan=dev-masterAlternatively, add the dependency directly to your composer.json file:
"require": { "pqrs/phploan": "dev-master"}Then add to your php code:
require_once__DIR__ .'/vendor/autoload.php';// Autoload files using Composer autoloadusePHPLoan\Loan;
Variables nomenclature$P Principal (loan amount)$r Annual interest rate$n Number of payments (months)$A Monthly payment amountCalculates the amount of every monthly payment based on the loan principal, interest rate and number of payments.
$loan =newLoan;$result =$loan->calculateMonthlyPayment(60000 ,9,360 );echonumber_format($result,2,".",",") .PHP_EOL;// Prints 482.77
Calculates the loan principal based on the number of payments, interest rate and payment amount.
$loan =newLoan;$result =$loan->calculatePrincipal(360,9,482.77357 );echonumber_format($result,2,".",",") .PHP_EOL;// Prints 60,000.00
Calculates the number of payments based on the principal, interest rate and payment amount.
$loan =newLoan;$result =$loan->calculateNumPayments(60000,9,482.77357 );echo$result .PHP_EOL;// Prints 360
Returns an object with the loan payment schedule.
$loan =newLoan;$schedule =$loan->getSchedule(60000,9,12 );echo"<table>";foreach ($scheduleas$key) {echo"<tr>";echo"<td>" .$key->numpayment ."</td>";echo"<td>" .$key->payment ."</td>";echo"<td>" .$key->interest ."</td>";echo"<td>" .$key->principal ."</td>";echo"<td>" .$key->balance ."</td>";echo"</tr>";}echo"</table>";// Prints html table:// 1 5,247.09 450.00 4,797.09 55,202.91// 2 5,247.09 414.02 4,833.07 50,369.84// 3 5,247.09 377.77 4,869.31 45,500.53// 4 5,247.09 341.25 4,905.83 40,594.70// 5 5,247.09 304.46 4,942.63 35,652.07// 6 5,247.09 267.39 4,979.70 30,672.37// 7 5,247.09 230.04 5,017.05 25,655.32// 8 5,247.09 192.41 5,054.67 20,600.65// 9 5,247.09 154.50 5,092.58 15,508.07// 10 5,247.09 116.31 5,130.78 10,377.29// 11 5,247.09 77.83 5,169.26 5,208.03// 12 5,247.09 39.06 5,208.03 0.00
You can find some uses for these functions intests folder.
PHP > 5.6
Not tested, but if you want to use phploan in 5.x PHP versions lower than 5.6, probably the only thing you have to change is the use of exponential expressions inLoan.php. Change ** for the functionpow():
// In method calculateMonthlyPayment( $P , $r, $n )$A =$P * (($i *pow((1 +$i),$n) ) / (pow((1 +$i),$n) -1 ));// In method calculatePrincipal( $n, $r, $A )$P =$A * (pow((1 +$i),$n) -1 ) / ($i * (pow((1 +$i),$n) ));
Contributions are very welcome!
Copyright © 2018 Alvaro Piqueras -pqrs
This project is licensed under the MIT License - see theLICENSE file for details.