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Ravikumarpa4
Obsidian | Level 7

need solution for below question by using do loop

 

each year an employee invests 5000 in an account determine the value of account after 3 year based on constant intrest rate of 4.5

 

1 ACCEPTED SOLUTION

Accepted Solutions
Ksharp
Super User
data _null_;
cum=0;
do n=0 to 2;
 cum=cum+1.045**n;
 
 total=5000*cum;
 year=n+1;
 put year= total= ;
end;
run;

View solution in original post

8 REPLIES 8
RW9
Diamond | Level 26 RW9
Diamond | Level 26

Solution is to use SAS code.  Realy what do you expect?  You have provided nothing, where is the test data (in the form of a datastep), where is the example output.  What code have you tried etc.

art297
Opal | Level 21

There's a function for that: MORT (see: http://support.sas.com/documentation/cdl/en/lrdict/64316/HTML/default/viewer.htm#a000245917.htm)

 

However, to use it, you'll have to specify whether the interest is compounded  daily, monthly or whatever.

 

Art, CEO, AnalystFinder.com

 

Ksharp
Super User
data _null_;
cum=0;
do n=0 to 2;
 cum=cum+1.045**n;
 
 total=5000*cum;
 year=n+1;
 put year= total= ;
end;
run;
Ravikumarpa4
Obsidian | Level 7

Hi

thanks for your code. i got the what i'm expecting but need one clarification on how you deceided  'cum=cum+1.045**n;'

Ksharp
Super User

It is equivalent with:

 

1

1+1.045

1+1.045+1.045**2

Yavuz
Quartz | Level 8
Hi, your question is about to "compound interest calculation" which is calculated as c=c+(1+r)^n classical formula.
C is capital, r is interest rate, n is period.
Thanks for Ksharp's solution.
Ravikumarpa4
Obsidian | Level 7

ok thanks but if want calcualte on simple interest then it will be 'cum=cum+1.045;' right?

Yavuz
Quartz | Level 8
Yes, but
If your interest rate (0.045) for one month and want to calculate simple annual interest multiply by 12
Cum=cum+(1.045)*12

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