Giter VIP home page Giter VIP logo

cic-go's Introduction

Compound Interest Calculator Logo

Compound Interest Calculator

Compound interest is one of the most powerful forces in investing. Simple interest simply means a set percentage of the principal for the period, and is rarely used in practice. On the other hand, compound interest is applied to both loans, investments and deposit accounts.

  • Calculate future amount for loan or investment

    f = p × ((r/100)+1) ^ n
    
  • Calculate principal amount for loan or investment

    p = f / ((r/100)+1) ^ n
    
  • Calculate interest rate for loan or investment

    r = (f/p) ^ 1/n - 1
    
  • Calculate number of periods for loan or investment

    n = ln(f/p) / ln(1+r)
    
  • Calculate periodic compounding future amount for loan or investment

    f = p × (((r/100)/n)+1) ^ n
    
  • Calculate effective annual interest rate for loan or investment

    e = (1+((r/100)/n)) ^ n − 1
    
  • Calculate present value of annuity

    v = p × (1 − (1+r) ^ −n) / r
    
  • Calculate value of each payment for annuity

    p = v × r / (1 − (1+r) ^ −n)
    

1. Future Amount Calculator

f = p × ((r/100)+1) ^ n

f = Future Amount (£)
p = Principal Amount (£)
r = Interest Rate (%)
n = Number of Periods
s = Type of Period (days-weeks-months-years)

An example

If the £1000 loan was for a period of 6 months at 10% interest rate, what is the future amount?:

1771.56 = 1000 × (0.1+1) ^ 6 months

£1,000 × (1.10 × 1.10 × 1.10 × 1.10 × 1.10 × 1.10) = £1771.56

f = £1771.56
p = £1000
r = 10% (10/100 for decimal)
n = 6
s = months

2. Principal Amount Calculator

p = f / ((r/100)+1) ^ n

f = Future Amount (£)
p = Principal Amount (£)
r = Interest Rate (%)
n = Number of Periods
s = Type of Period (days-weeks-months-years)

An example

What principal amount do you need to invest, to get £2000 in 5 years at 10% interest rate?:

1241.84 = 2000 / (0.1+1) ^ 5 years

£2,000 / (1.10 × 1.10 × 1.10 × 1.10 × 1.10) = £1241.84

f = £2000
p = £1241.84
r = 10% (10/100 for decimal)
n = 5
s = years

3. Interest Rate Calculator

r = (f/p) ^ 1/n - 1

f = Future Amount (£)
p = Principal Amount (£)
r = Interest Rate (%)(x100 for percentage)
n = Number of Periods
s = Type of Period (days-weeks-months-years)

An example

You have £1,000, and want it to grow to £2,000 in 5 Years, what interest rate do you need?:

0.1487 = (2000/1000) ^ 1/5 years - 1

(£2000/£1000) ^ 1/5 - 1 = 0.1487 x 100 = 14.87%

f = £2000
p = £1000
r = 14.87% 
n = 5
s = years

4. Number of Periods Calculator

(note: it uses the natural logarithm function ln)

n = ln(f/p) / ln(1+r)

f = Future Amount (£)
p = Principal Amount (£)
r = Interest Rate (%)
n = Number of Periods
s = Type of Period (days-weeks-months-years)

An example

How many years will it take to turn £1,000 into £2,000 at 10% interest rate?:

7.27 = ln(2000/1000) / ln(1+(r/100))

ln(£2000/£1000) / ln(1+(10/100)) = 7.27 years

f = £2000
p = £1000
r = 10% (10/100 for decimal)
n = 7.27
s = years

5. Periodic Compounding Future Amount Calculator

f = p × (((r/100)/n)+1) ^ n

f = Future Amount (£)
p = Principal Amount (£)
r = Interest Rate (%)
n = Number of Periods within the year (Semiannually=2,Quarterly=4,Monthly=12,Daily=365,Continuously=2.71828182845904523536028747135266249775724709369995957
49669676277240766303535475945713821785251664274)

An example

If £1000 was invested at 10% interest rate, "Compounded Semiannually"; what is the future amount?:

1102.5 = 1000 × (((10/100)/2)+1) ^ 2

£1000 × (((10/100)/2)+1) ^ 2 = £1102.50

f = £1102.50
p = £1000
r = 10% (10/100 for decimal)
n = 2 

6. Effective Annual Interest Rate Calculator

e = (1+((r/100)/n)) ^ n − 1

e = Effective Annual Interest Rate (%)(x100 for percentage)
r = Nominal Interest Rate (%)
n = Number of Periods within the year (Semiannually=2,Quarterly=4,Monthly=12,Daily=365,Continuously=2.71828182845904523536028747135266249775724709369995957
49669676277240766303535475945713821785251664274)

An example

What effective annual interest rate do you get when the ad says "6% compounded monthly"?:

0.06168 = (1+((6/100)/12)) ^ 12 − 1

0.06168 x 100 = 6.168%

e = 6.168%
r = 6% (6/100 for decimal)
n = 12 

7. Present Value of Annuity Calculator

v = p × (1 − (1+r) ^ −n) / r

v = Present Value of Annuity (£)
p = Value of Each Payment for Annuity (£)
n = Number of Periods
r = Interest Rate per Period (%)

An example

What is the present value for annuity of £400 a month for 5 years?, use a monthly interest rate of 1%:

17982.02 = 400 x (1 - (1+(1/100)) ^ -60) / (1/100)

£400 x (1 - (1+(1/100)) ^ -60) / (1/100) = £17982.02

v = £17982.02 
p = £400
n = 60 (12 months x 5 years)
r = 1% (1/100 for decimal)

8. Value of Each Payment for Annuity Calculator

p = v × r / (1 − (1+r) ^ −n)

p = Value of Each Payment for Annuity (£)
v = Present Value of Annuity (£)
n = Number of Periods
r = Interest Rate per Period (%)

An example

Say you have £10,000 and want to get a monthly income for 6 years out of it, 
how much could you get each month?, assume a monthly interest rate of 0.5%:

165.73 = 10000 × (0.5/100) / (1 − (1+(0.5/100)) ^ −72)

£10000 × (0.5/100) / (1 − (1+(0.5/100)) ^ −72) = £165.73

p = £165.73
v = £10000
n = 72 (12 months x 6 years)
r = 0.5% (0.5/100 for decimal)

Built With

Go - Go is an open source programming language that makes it easy to build simple, reliable, and efficient software.

https://golang.org/

https://play.golang.org/

Contributing

Please read CONTRIBUTING.md for details on our code of conduct, and the process for submitting pull requests to us.

Versioning

We use SemVer for versioning. For the versions available, see the tags on this repository.

Author

Ganesh Niruban

See also the list of contributors who participated in this project.

License

This project is licensed under the GNU General Public License v3.0 - see the LICENSE.md file for details.

Acknowledgments

https://www.mathsisfun.com/money/compound-interest.html

https://en.wikipedia.org/wiki/Compound_interest

cic-go's People

Contributors

juba666 avatar

Stargazers

 avatar  avatar  avatar  avatar

Forkers

shappy082

cic-go's Issues

Inputting symbols and placeholders like £, $ and %

Describe the bug
Inputting symbols and placeholders like £ , $ and % bypasses validation rules

To Reproduce
Steps to reproduce the behavior:

  1. Open cic.go and choose choice 1
  2. Input 0 for Principal Amount
  3. Input £0 for Principal Amount

Expected behavior
First input triggers error and goto pa works, second input triggers error message but doesnt goto pa, instead skips to else statement

func calcFA() {
var p float64
var s string
var n float64
var r float64
pa:
fmt.Print("Enter a Principal Amount(£): ")
fmt.Scanf("%f\n", &p)
if !(p > 0) {
        fmt.Println("ERROR: you did not enter a number greater than zero, or included a symbol")
		goto pa
} else {

Recommend Projects

  • React photo React

    A declarative, efficient, and flexible JavaScript library for building user interfaces.

  • Vue.js photo Vue.js

    🖖 Vue.js is a progressive, incrementally-adoptable JavaScript framework for building UI on the web.

  • Typescript photo Typescript

    TypeScript is a superset of JavaScript that compiles to clean JavaScript output.

  • TensorFlow photo TensorFlow

    An Open Source Machine Learning Framework for Everyone

  • Django photo Django

    The Web framework for perfectionists with deadlines.

  • D3 photo D3

    Bring data to life with SVG, Canvas and HTML. 📊📈🎉

Recommend Topics

  • javascript

    JavaScript (JS) is a lightweight interpreted programming language with first-class functions.

  • web

    Some thing interesting about web. New door for the world.

  • server

    A server is a program made to process requests and deliver data to clients.

  • Machine learning

    Machine learning is a way of modeling and interpreting data that allows a piece of software to respond intelligently.

  • Game

    Some thing interesting about game, make everyone happy.

Recommend Org

  • Facebook photo Facebook

    We are working to build community through open source technology. NB: members must have two-factor auth.

  • Microsoft photo Microsoft

    Open source projects and samples from Microsoft.

  • Google photo Google

    Google ❤️ Open Source for everyone.

  • D3 photo D3

    Data-Driven Documents codes.