CFLib.org – CompoundInterest

CompoundInterest(r, p, t)

Last updated April 23, 2002

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author

Stephan Scheele
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Version: 1 | Requires: ColdFusion 5 | Library: FinancialLib

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Description:
Calculate the compound interest after n years.

Return Values:
Returns a numeric value.

Example:

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<cfoutput>
Future value:
<P>
100 dollars for 1 year at 10%: #DollarFormat(compoundInterest(0.1, 100, 1))#<br>
100 dollars for 2 years at 10%: #DollarFormat(compoundInterest(0.1, 100, 2))#<br>
100 dollars for 3 years at 10%: #DollarFormat(compoundInterest(0.1, 100, 3))#
</cfoutput>

<cfoutput>
Future value:
<P>
100 dollars for 1 year at 10%: #DollarFormat(compoundInterest(0.1, 100, 1))#<br>
100 dollars for 2 years at 10%: #DollarFormat(compoundInterest(0.1, 100, 2))#<br>
100 dollars for 3 years at 10%: #DollarFormat(compoundInterest(0.1, 100, 3))#
</cfoutput>

Parameters:

Name	Description	Required
r	Interest rate (3% = 0.03).	Yes
p	Principal	Yes
t	Duration of the loan in years.	Yes

Full UDF Source:

	
	
			
			
			
				
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				ColdFISH is developed by Jason Delmore.  Source code and license information available at coldfish.riaforge.org.  Version 3.1.1
				
			<cfscript>
/**
 * Calculate the compound interest after n years.
 * 
 * @param r 	 Interest rate (3% = 0.03). 
 * @param p 	 Principal 
 * @param t 	 Duration of the loan in years. 
 * @return Returns a numeric value. 
 * @author Stephan Scheele (&#115;&#116;&#101;&#112;&#104;&#97;&#110;&#64;&#115;&#116;&#101;&#112;&#104;&#97;&#110;&#45;&#116;&#45;&#115;&#99;&#104;&#101;&#101;&#108;&#101;&#46;&#100;&#101;) 
 * @version 1, April 23, 2002 
 */
function compoundInterest(r, p, t){
  return (p* (1 + r)^t);
}
</cfscript>
		<cfscript>
/**
 * Calculate the compound interest after n years.
 * 
 * @param r      Interest rate (3% = 0.03). 
 * @param p      Principal 
 * @param t      Duration of the loan in years. 
 * @return Returns a numeric value. 
 * @author Stephan Scheele (stephan@stephan-t-scheele.de) 
 * @version 1, April 23, 2002 
 */
function compoundInterest(r, p, t){
  return (p* (1 + r)^t);
}
</cfscript>