on January 1 of each year,$5000 is invested in an amount .complete the data step with do loop to determine the value of the account after 15 years 1) if a constant annual invest rate of 10% is expected .2)if a compounding annual interest rate of 10 % is expected .?
This homework assignment has been posted multiple times here. Use the search function.
When posting a question, always show the effort you have already made (code & log), and where it doesn't do what you expect.
We're not here to support lazy students, but help people who make an honest effort at solving their issue themselves.
I have tried this but i think both of them are wrong
/*1. (1) DO LOOP- CONSTANT ANNUAL INTEREST RATE OF 10% */
data earning;
do year= 1 to 15;
rate=0.1;
amount+5000;
amount+(amount*0.1);
output;
end;
run;
/*1. (2) DO LOOP- COMPOUNDING ANNUAL INTEREST RATE OF 10% */
data earning2;
do year= 1 to 15;
rate=0.1;
amount+5000;
earned+(amount+earned)*rate;
output;
end;
run;
And what are the values you would expect?
SAS also has a number of financial functions and/or options for the FINANCE function that allow many calculations of this specific type without any looping.
DO LOOPS (1) SIMPLE INTEREST- interest will calculate every year but that interest will add in amount after 15 years
(2) COMPOUND INTEREST-every year interest will add in amount
Don't miss out on SAS Innovate - Register now for the FREE Livestream!
Can't make it to Vegas? No problem! Watch our general sessions LIVE or on-demand starting April 17th. Hear from SAS execs, best-selling author Adam Grant, Hot Ones host Sean Evans, top tech journalist Kara Swisher, AI expert Cassie Kozyrkov, and the mind-blowing dance crew iLuminate! Plus, get access to over 20 breakout sessions.
Learn how use the CAT functions in SAS to join values from multiple variables into a single value.
Find more tutorials on the SAS Users YouTube channel.