# these code is how to find (the new mortgage values of a house), but I'm having troubles changing it to find (how long it will take to pay off a house).

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disp('I can tell you how much you''ll have to pay for your house.')

disp([' '])

pv=input('What was your original mortgage value? ');

rate=input('What is the yearly interest rate on your home? ');

pmt=input('What is your mounthly payments? ');

nper=input('How many monthly payments have you made so far? ');

m = (rate/100)/12;

nper = 10*12;

current_balance = 1:nper;

for loop = 1 : nper

pv = pv*(1+m)-pmt;

current_balance(loop) = pv;

fprintf('The current balance after %d periods (out of %d) is %.2f\n', ...

loop, nper, current_balance(loop));

end

All of the variables and the equation are still used, but Im thinking that I just need to change the fprintf line, but this is suppose to be in a while loop. I'm not sure if that changes much of the code

##### 9 Comments

Walter Roberson
on 10 Apr 2020

### Answers (1)

James Browne
on 10 Apr 2020

Hello, I think I have found a solution for you, or at least something close:

disp('I can tell you how much you''ll have to pay for your house.')

disp([' '])

pv=input('What was your original mortgage value? ');

rate=input('What is the yearly interest rate on your home? ');

pmt=input('What is your mounthly payments? ');

nper=input('How many monthly payments have you made so far? ');

m = (rate/100)/12;

nper = 10*12;

current_balance = 1:nper;

loop = 0;

while pv > 0

pv = pv*(1+m)-pmt;

loop = loop + 1;

current_balance(loop) = pv;

end

fprintf('It will take %d periods to pay off the loan\n',loop);

Hope this helps =)

##### 4 Comments

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