<?php
/*
* Funtion to suggest the Eligibility Amount for customer
*/
$rate = 14.76; //ROI yearly basis
$nper = 240; // Total tenure
$pmt = 30800; // Basic salary
$miy = 12; // Months in a year
//$Output = '2,370,888.18';
function getEligibilityAmount ($rate, $nper, $pmt, $miy)
{
// Validate parameters
$pv = 0;
$discountRate = 1 + (($rate/$miy) / 100);
for ($i = 1; $i <= $nper; $i++) {
$pv += $pmt / pow($discountRate, $i);
}
return $pv;
}
$checkEligibilityAmout = getEligibilityAmount ($rate, $nper, $pmt, $miy);
echo $checkEligibilityAmout;
?>About The Author
