How to calculate monthly payment for loan amount?

  • Titanupgrades
    Asked on October 11, 2018 at 10:37 PM

    I am trying to calculate what the payments would be 5, 12, 20-year loan with different amounts like this site http://finance.savecal.info/ 


    I know its possible in jotform, this guy has done it but I don't know how https://form.jotformeu.com/60561555261352 

  • BJoanna
    Replied on October 12, 2018 at 1:59 AM

    You can perform a calculation inside of a form, with the Form Calculation widget and conditional logic.

    How to Perform Form Calculation Using a Widget

    How to Insert Text or Calculation into a Field Using Conditional Logic

    The form you provided cannot be cloned, so I would suggest you to try to set up a calculation inside of your form using the guides I provided above. 

    Most likely you will also have to assign calculation values to some fields, so I would suggest you to check this guide as well:

    How to Assign Calculation Value

    If you have any issues to set up a calculation inside of your form, let us know. 

  • Titanupgrades
    Replied on October 12, 2018 at 2:08 PM

    If I have the total loan number amount and the number of payments and the APR interest rate.

    What formula do i use in Jotform to find monthly payment?

    How is this one done? https://form.jotformeu.com/60561555261352





  • Kevin Support Team Lead
    Replied on October 12, 2018 at 2:55 PM

    This is the formula the user implemented on the total of his form: 

    1539370434screenshot 01 Screenshot 10

    You may also clone the form and inspect what the user has done there, this guide will help you cloning it: https://www.jotform.com/help/42-How-to-Clone-an-Existing-Form-from-a-URL 

    The guides my colleague provided should also help to understand how to add the needed elements and perform the calculations. 

    If you have questions, let us know. 

  • Titanupgrades
    Replied on October 12, 2018 at 3:32 PM

    It's not that simple because it's APR annual percentage rate that determines the monthly payment not just total balance / payments. 

    So I'm assuming you have to convert the interest rate into a decimal point save it and then the years / the months save it and then calculate what the per month interest rate would be plus that or some kind of similar calculation. 


    It would have been easier if I could have copied and cloned the one I'm given as a sample but it shows Unauthorized request. You do not have access to this form 

  • Kevin Support Team Lead
    Replied on October 12, 2018 at 4:02 PM

    Ok, the user seems to be using the "pow()" function, you will find more details about it here: https://www.jotform.com/help/267-Form-Calculation-Math-Function-Reference 

    I have also a form where the formulas are implemented, you may clone my form using this link: https://form.jotform.com/82846465625972 

    This way you may see the formulas implemented on the current calculations. 

    I hope this helps.