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PHP Ceil Rounding Error

Question asked by bryce@baymountaincapital.com on Aug 6, 2015
Latest reply on Aug 7, 2015 by bryce@baymountaincapital.com
This has been driving me crazy!  The ceil function seems to be rounding up whole numbers.  For example,

$bean->monthly_interest_payment_c = ceil($bean->loan_amt_c * ($bean->interest_rate_c / 100) / 12 * 100) / 100;
When I plug in $450,000 for Loan Amt and 14 for Interest Rate, it should come out to an even $5,250.00, but it is adding an extra cent to $5,250.01 ?!?!

To test it, I added a test variable that exactly the same as the above Monthly Interest Payment but without the ceil function.  Then I did a simple boolean test to see if they were equal, and they were not!

The Monthly Interest Payment and the Loan Amt are currency fields, and the Interest Rate is a decimal field.

The REALLY weird thing is when I plug in $100,000 for Loan Amt and 12 for Interest Rate, it calculates the Monthly Payment CORRECTLY at $1000.00.



Please help!  This is driving me nuts!

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