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COMPINT(principal,rate,periods)
| COMPINT | Computes total compounded interest plus principal. |
| principal | A numeric constant or variable containing the beginning balance, initial deposit, or loan. |
| rate | A numeric constant or variable containing the applied interest rate for the given time frame. |
| periods | A numeric constant or variable containing the number of compounding periods per year. |
The COMPINT function computes total interest based on a principal amount (principal), an applied interest rate (rate), plus the number of compounding periods (periods). The computed amount includes the original principal plus the compound interest earned. Periods specifies the number of compounding periods. For example, periods = 2 results in semi-annual compounding.
Applied interest rate may be calculated as follows:
PeriodicRate = AnnualInterestRate / (PeriodsPerYear * 100)
AppliedRate = PeriodicRate * TotalPeriods
Return Data Type: DECIMAL
Internal Formulas:
Example:
CASE FIELD()
OF ?OK
CASE EVENT()
OF EVENT:Accepted
PeriodicRate = AnnualInterestRate / (PeriodsPerYear * 100) ! Setup Variables
ActualRate = PeriodicRate * TotalPeriods
CompoundInterest = COMPINT(Principal,ActualRate,TotalPeriods) ! Call COMPINT
DO SyncWindow
END