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compound.lcdoc
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41 lines (24 loc) · 1.15 KB
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Name: compound
Type: function
Syntax: compound(<interestPerPeriod>, <numberOfPeriods>)
Summary: <return|Returns> the principal plus accrued interest of an investment.
Introduced: 1.0
OS: mac,windows,linux,ios,android
Platforms: desktop,server,web,mobile
Example:
compound(.05,20)
Example:
put theInvestment * compound(yearlyInterest,numberYears) into endValue
Parameters:
interestPerPeriod:
numberOfPeriods: A positive number.
interestRate: A positive number. The interestRate is expressed as a fraction of 1 so, for example, an 8% rate is written .08.
Returns: The <compound> <function> <return|returns> a positive number.
Description:
Use the <compound> <function> to calculate the value of an investment that earns interest.
The formula for the value of an compound-interest-bearing account is
(1 + <interestRate>)^( <numberOfPeriods>)
The <compound> <function> calculates this value.
The <numberOfPeriods> and the <interestRate> must use the same unit of time. For example, if the periods are months, the interest rate is the interest per month.
References: function (control_st), annuity (function), round (function), return (glossary)
Tags: math