How to create Monthly Mortgage Payment Calculator (simple loan system) in PHP

Dear All,

I would like to share with all of you about how to create monthly mortgage paymet calculator that is very import with developer want to create Loan system,

It is the concept PHP and formular, if you don't understand can comment.

You can enjoy with it via download source code by click like Download or you can check code below.

indx.php

   
   


    

      
Mortgage Payment Calculator
      
 
      

        

          
Loan balance:
 $
          
Interest rate:
  %
          
Loan term:
  Month
          


        
  
      
	
      
RESULT:
      
 
      

        ";
				echo "";
			?>
        

			
Monthly payment:
 $".$pay1."
Total interest:
 $".(($term*$pay*$period)-$balance)."
			
";
			   echo "";
			   echo "";
			   for ($i=0;$i<($term*$period);$i++){
				  $tmp = (($pay) - ($balance*($rate/100/$period)));
				  $diff = round($tmp,2);
				  $int  = round(($balance*$rate/100/$period),2);
				  $princ = $balance - $diff;
				  $princ1 = $int + $pay1;
				  $balance = round($balance,3);
				   if($balance < $pay1){
						$princ1 = $balance + $pay1; 
					$balance = 0;
				  }
				  echo "";
				  $test = $balance = $princ;
			   }
			   echo "
Month
Principle
Interest
Principle monthly payment
Total Monthly Payment
$i. month
 $".$balance."
 $".$int."
 $".$pay1."
".$princ1."
";
			?>
     

	
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