Updated: 31 October 2010

Use TOTALINT to calculate the total interest on a loan or lease.

SELECT [westclintech].[wct].[TOTALINT] (

<@Nper, float,>

,<@Pmt, float,>

,<@PV, float,>

,<@FV, float,>)

The number of periods in the loan or lease. *@Nper* is an expression of type **float** or of a type that can be implicitly converted to **float**.

The payment amount of the loan or lease. *@Pmt* is an expression of type **float** or of a type that can be implicitly converted to **float**.

The amount of the loan or lease. *@PV* is an expression of type **float** or of a type that can be implicitly converted to **float**.

The residual amount of the loan or lease. *@FV* is an expression of type **float** or of a type that can implicitly be converted to **float**.

float

Â· *@Nper* must greater than 1

Â· TOTALINT expects, but does not require, that *@PV*, *@FV*, and *@PMT* all have the same sign.

Calculate the total interest on a $3,000 loan with 15 monthly payments of $215.

SELECT wct.TOTALINT(

15 --Number of payments

,215 --Monthly payment

,3000 --Amount of the loan

,0 --residual value

) as TOTALINT

This returns the following result.

TOTALINT

----------------------

225

(1 row(s) affected)

Calculate the total interest on a $30,000 loan with a $5,000 balloon payment at the end of 48 periods and a payment amount $595.02

SELECT wct.TOTALINT(

48 --Number of payments

,595.02 --Monthly payment

,30000 --Amount of the loan

,5000 --residual value

) as TOTALINT

This produces the following result.

TOTALINT

----------------------

3560.96

(1 row(s) affected)