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This report uses three what if parameters to calculate the monthly payments, total interest and the total amount payable for a loan. Simply play with the sliders to see how it affects the payments.
PLEASE NOTE This calculator is just to demonstrate the What If parameters and should not be used for real financial calculations.
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Assuming you have a table named 'Loans' with the following columns: 'LoanAmount,' 'InterestRate,' 'LoanTerm,' and 'StartDate,' here's how you can use loan calculator bot the monthly payment and total interest paid:
To calculate the monthly payment, you can use the PMT function in DAX. The formula might look like this:
MonthlyPayment = -PMT(Loans[InterestRate] / 12, Loans[LoanTerm], Loans[LoanAmount])
In this formula:
To calculate the total interest paid over the life of the loan , you can use the following DAX formula:
TotalInterestPaid =
VAR MonthlyPayment = -PMT(Loans[InterestRate] / 12, Loans[LoanTerm], Loans[LoanAmount])
RETURN
(MonthlyPayment * Loans[LoanTerm]) - Loans[LoanAmount]
In this formula:
Once you've created these DAX measures, you can use them in your Power BI visuals to display the monthly payments and total interest paid for each loan.
Source: https://chat.openai.com/
Hi Dychechris....could you kindly share the loan calculation pbix file and happy new sir.
I'm trying to recreate this exact function. Would it be possible for you to share the Power Bi file?
Thank you!!!!!!!!
Stephen