Calculate loan payment in Transact Sql

Ever need a very rough and simple estimated loan payment in Transact Sql?

There are lots of resources out there for various formulas for calculating various types of payments. Pick your flavor. (See wikipedia

http://en.wikipedia.org/wiki/Amortization_calculator

or

http://en.wikipedia.org/wiki/Day_count_convention)

One other caveat: I do not condone the practice of putting business logic like this in the database. This was developed for a legacy system that had no other choice. It is posted here because the syntax is more or less, close to the same regardless of the language used, whether tsql or c#, or anything else.

declare @terms int
declare @rate float
declare @price float

set @terms = 40
set @rate = 17.95
set @price = 13950

declare @realrate float
declare @pmt float

set @realrate = (@rate/100) / 12

--This does the calculation
set @pmt = @price*(@realrate*(power((1+@realrate),@terms))) / (power((1+@realrate),@terms)-1)


print @pmt