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I have an expression like this -> "(0.341 * 8000.0) / (1 - (1 + 0.341) ^ -84)"
Expected result - "109.71908469357446"
Actual result - "1.538906384258725e-36"
calculation should be done like below snippet
fun calculateMonthlyInstallment(loanAmount: Double, monthlyInterestRate: Double, numberOfMonths: Int): Double {
val monthlyInterestRateDecimal = monthlyInterestRate / 100.0 // Convert percentage to decimal
val power = Math.pow(1 + monthlyInterestRateDecimal, -numberOfMonths.toDouble())
return (monthlyInterestRateDecimal * loanAmount) / (1 - power)
}
fun main() {
val loanAmount = 8000.0
val monthlyInterestRate = 0.341 // 0.5% interest rate
val numberOfMonths = 84
val monthlyInstallment = calculateMonthlyInstallment(loanAmount, monthlyInterestRate, numberOfMonths)
println("Monthly Installment: $monthlyInstallment")
}
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