internal Loan CalculateMonthlyPayment(Loan loan)
{
double interestRate = loan.InterestRate / 100;
double loanTerm = loan.LoanTerm * 12;
double payment = (loan.PurchasePrice - loan.DownPayment) *
(Math.Pow((1 + interestRate / 12), loanTerm) * interestRate) / (12 * (Math.Pow((1 + interestRate / 12), loanTerm) - 1));
// add on a monthly property tax and insurance
payment = payment + (loan.PropertyTax + loan.PMI) / 12;
// place the monthly payment calculated into the output text field
loan.MonthlyPayment = payment;
return loan;
}
public ActionResult Create(Loan loan)
{
var result = _loanManager.CalculateMonthlyPayment(loan);
LoanRepo.loans.Add(result);
return RedirectToAction("Index"); ;
}