Creation the formula of Compound interest through DO loop

[Shrutibhatnagar]

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 ? 

[PaigeMiller · Accepted solution]

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...

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