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saturation
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Mortgage Payment Calculation

‎10-16-2019 12:17 PM

Hi, I've checked the forums....It doesn't appear it's possible to do mortgage amortization, but I'm wondering if it's possible just to calculate a simple monthly payment based on # years, rate, and price? I can't believe there's nothing in Power BI to do this--or so it appears (or DAX).

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v-juanli-msft
Community Support
Community Support
In response to FAIRFIELD1511

‎10-29-2019 01:18 AM

Hi @FAIRFIELD1511 

I modify my formula according to this article.

Capture27.JPG

Assume the second line is :

you borrow 25000 at 0.0425 rate for 30 years,

then formula for part1-part3 are as follows:

monthly rate = [yearly rate]/12

part1 = POWER(1+[monthly rate],[years]*12)-1

part2 = [monthly rate]*POWER(1+[monthly rate],[years]*12)

part3 = [part1]/[part2]

Loan payment monthly = [loan amt]/[part3]

Capture28.JPG

Best Regards
Maggie
Community Support Team _ Maggie Li
If this post helps, then please consider Accept it as the solution to help the other members find it more quickly.

 

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