Creation the formula of Compound interest through DO loop

Shrutibhatnagar — Tue, 19 Feb 2019 13:50:14 GMT

data testout1;
principle=5000;
rate=0.10;
earned=0;
do year=1 to 15;
do month=1 to 12;
earned=earned+(principle+earned)*rate;
output;
end; end;
run;

is it right if principle is 5000, rate 10% and calculated for 15 years ?

Re: Creation the formula of Compound interest through DO loop

PaigeMiller — Tue, 19 Feb 2019 14:13:25 GMT

I didn't check your code, but you can use the COMPOUND function in SAS to do this, and then you will be sure the answer is correct. Or you can compare your results to what the COMPOUND function says.

https://documentation.sas.com/?docsetId=lefunctionsref&docsetTarget=n0ledxl0wyn9jyn12hi34nlpp7ve.htm&docsetVersion=9.4&locale=en

By the way, it seems to me that in your code, the interest rate is 10% per month, is that really what you wanted?

topic Re: Creation the formula of Compound interest through DO loop in New SAS User

Creation the formula of Compound interest through DO loop

Re: Creation the formula of Compound interest through DO loop