**sixtowns**Hi, can anybody help I’m trying to do a loan repayment calculator using the ‘sliders with calculated result’ widget.

Showing the amount customer would like to borrow In £

Monthly Loan repayment £, at an interest rate of 2% per month (APR 26.8)

Over a maximum repayment period of 36 months.

Thanks in advance

- JotForm Support
**ashwin_d**Hello sixtowns,

Please explain the formula to calculate the repayment calculator and we will surely help you.

We will wait for your response.

Thank you!

**sixtowns**Hi I have produced a repayment calculator which I hope will give you an idea of how our calculations work.

Thanks.

- JotForm Support
**ashwin_d**Hello sixtowns,

I was able to figure out the rest of the formula you have added. Can you please explain the formula to calculate the "Monthly Payment" amount value. Please be noted that you need to actually explain the formula instead of excel function.

We will wait for your response.

Thank you!

**sixtowns**Hi, How does this look?

P = the amount borrowed

r = the monthly interest rate

n = the number of months of the loan

M = the monthly payment

M = P(1+r)n r / [(1+r)n-1]

**Example 1**: Customer borrow £1,000.00 at 18% annually for two years. monthly payment is.P= £1,000

r = 1.5% per month

n = 24 months

Thus,

M=1,000(1+.015)24(.015)/[(1+.015)24-1]= £49.92.Per Month

- JotForm Support
**ashwin_d**Hello sixtowns,

This seems to be clear.

Let me check if that can be implemented within the form with the set of formula available.

I will get back to you on this soon.

Thank you!

**sixtowns**Hi, any updates on this?

- JotForm Support
**ashwin_d**Hello sixtowns,

I am still trying to create this form but unable to complete the calculation. I am exploring the other possibilities on how to do the interest calculation within the "Form Calculation" widget.

I will get back to you on this as soon as I am able to complete it.

Thank you!