PHP MySQL - Stilson.net

www.it-ebooks.infoCHAPTER 4 • FUNCTIONS// Payment iteration$paymentNumber = 1;// Determine total number payments$totalPayments = $termLength * $paymentsPerYear;// Determine interest component of periodic payment$intCalc = 1 + $interestRate / $paymentsPerYear;// Determine periodic payment$periodicPayment = $balance * pow($intCalc,$totalPayments) * ($intCalc - 1) /(pow($intCalc,$totalPayments) - 1);// Round periodic payment to two decimals$periodicPayment = round($periodicPayment,2);// Create tableecho "";echo "Payment NumberBalancePaymentPrincipalInterest";// Call recursive functionamortizationTable($paymentNumber, $periodicPayment, $balance,$monthlyInterest);// Close tableecho "";?>Figure 4-1 shows sample output, based on monthly payments made on a five-year fixed loan of$10,000.00 at 5.75 percent interest. For reasons of space conservation, just the first 12 payment iterationsare listed.99