Note: This is a work in progress and will be formatting errors. Read more about the project on the home page. compoundcompound(number1, number2) where number1 represents the interest rate (expressed as a decimal) and number2 represents the number of periods over which the interest is compounded. Value returned: value of one unit of principal invested at the interest rate and compounded over the specified number of periods, or a number equal to (1 + rate) ^ periods An interest rate involves a certain percentage (expressed as a decimal) per some unit of time—usually per year. You must use the same unit of time to measure the number of periods. For example, if you have a yearly interest rate that is compounded monthly, you must convert the yearly rate to the interest per month ( rate / 12 ) and be sure to express the number of periods as months (2 years = 24 months). Demo Script
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Version 0.7b1 (March 24, 2022)
Note: This is a work in progress and will be formatting errors. Read more about the project on the home page.
compound(number1, number2)
number1
represents the interest rate (expressed as a decimal) and number2
represents the number of periods over which the interest is compounded. (1 + rate) ^ periods
rate / 12
) and be sure to express the number of periods as months (2 years = 24 months). on compoundDemo
set numberFormat to "0.00"
answer "$100 invested for 5 years at 5.75% interest" &&¬
"compounded quarterly yields $" & (100 * compound(.0575/4,5*4))
end compoundDemo
Version 0.7b1 (March 24, 2022)