View Single Post
  #4 (permalink)  
Old 05-12-2008, 11:09 AM
Eku Eku is offline
Senior Member
 
Join Date: May 2008
Location: Makati, Philippines
Posts: 228
Eku is on a distinguished road
Please confirm this Algo.

For Annual Interest Rates:
totalAmmount = (BasicAmmount) x ((InterestRateAnnually)^(NumberOfYears))
or in another algo it may look like this. But they are the same.
for (int i-0; i<NumberOfYears; i++){
basicAmmount = (BasicAmmount) + (BasicAmmount * InterestRateAnnually)}

Code:
double CurrMoney=5000,TotalMoney; int years = 5; for (int i=0;i<years;i++){ CurrMoney=CurrMoney + (CurrMoney*0.05); } TotalMoney=CurrMoney;
OR the simplified version
Code:
double CurrMoney=5000,TotalMoney; int years = 5; TotalMoney=CurrMoney * (1+((0.05)^years));

Last edited by Eku : 05-12-2008 at 11:16 AM.
Reply With Quote