How can i generate monthly payment in query as per below calculation

[Kamayo Ako]

I got loan of a 5,000 with monthly interest of 6%. I will pay it for 3 months in a semi monthly basis, thus my monthly installment is 983.33

I did not use PMT in computation, simply just

[5000 x 0.06 x 3] + 5000 / 6


I try to apply in the attached sample but i failed to do.

thank you.

 

[arnelgp]

there is similar thread here:
Creating an Amortisation Schedule in Access | Access World Forums (access-programmers.co.uk)

 

[mike60smart]

I got loan of a 5,000 with monthly interest of 6%. I will pay it for 3 months in a semi monthly basis, thus my monthly installment is 983.33

I did not use PMT in computation, simply just

[5000 x 0.06 x 3] + 5000 / 6


I try to apply in the attached sample but i failed to do.

thank you.

Hi

I think you need to start again.

Usually many Members would take out 1 or more Loans.

This would mean a table for Members Details and a table for Loan Details with a Junction table to deal with the Many to Many relationships.

Your Members table needs to be Normalised as it currently contains details for:-

Members

Co-Workers

Employers & Address

Pay Details

Loan Details

Payment Details

Lenders Details

Bank Details

In the Members table you have a field set as ID - Autonumber, when it should be given a proper name like MemberID, and this should be set
as the Primary Key.

You currently have the field Members No set as the PK which is a Text DataType.

All table should have a Primary Key set as Autonumber - Long Integer.

You should not use spaces in Field names