DiscountingInterest(p, r, t)
Last updated April 23, 2002
Version: 1 | Requires: ColdFusion 5 | Library: FinancialLib
Description:
Calculate the actual value of an amount by discounting the interest over n years.
Return Values:
Returns a numeric value.
Example:
$133.10 discounted at 10% over 1 year: #discountingInterest(0.1, 133.1, 1)#<br>
$133.10 discounted at 10% over 2 years: #discountingInterest(0.1, 133.1, 2)#<br>
$133.10 discounted at 10% over 3 years: #discountingInterest(0.1, 133.1, 3)#
</cfoutput>
Parameters:
| Name | Description | Required |
|---|---|---|
| p | Principal | Yes |
| r | Interest rate (0.03 = 3%) | Yes |
| t | Time in years. | Yes |
Full UDF Source:
<cfscript>
/**
* Calculate the actual value of an amount by discounting the interest over n years.
*
* @param p Principal
* @param r Interest rate (0.03 = 3%)
* @param t Time in years.
* @return Returns a numeric value.
* @author Stephan Scheele (stephan@stephan-t-scheele.de)
* @version 1.0, April 23, 2002
*/
function DiscountingInterest(r, p, t){
return (p / (1 + r)^t);
}
</cfscript>
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