Creating First UDF

[Larryh320]

I want to create a new User Defined Function to calculate compound
interest on a loan or investment. The formula is:

*F = P(1+R/N) ^ (N*T)*

Where: F = Final Amount
P = Initial Amount
R = Interest Rate
N = Number of Compounding Periods
T = Time (in years)

I have attempted this on a number of occassions and wind up with a mess
and not every close to what the result to be. A lot of times I get an
error.

I'd appreciate any help I could get with this.

Thank you.

 

[Jake Marx]

Hi Larry,

I want to create a new User Defined Function to calculate compound
interest on a loan or investment. The formula is:

*F = P(1+R/N) ^ (N*T)*

Where: F = Final Amount
P = Initial Amount
R = Interest Rate
N = Number of Compounding Periods
T = Time (in years)

Have you tried the built-in FV function? This should do what you're looking
for.

--
Regards,

Jake Marx
MS MVP - Excel
www.longhead.com

[please keep replies in the newsgroup - email address unmonitored]

 

[Guest]

Have you looked at the built-in Financial functions to see if they meet your
need?

Try something like this:

Function payAmount(P As Double, N As Integer, R As Double, T As Integer)
R = R * 0.01 ' Convert to %
payAmount = P * (1 + (R / N)) ^ (T * N)
End Function

Sub test()
MsgBox payAmount(100.00, 12, 5.0, 5)
End Sub

Or

=payamount(A1,B1,C1,D1) where A1=P, B1=N, C1=R, D1=T

A1=100.00
B1=12
C1=5.0
D1=5


HTH

 

[sebas_cp]

The UDF should go in a VBA module. It seems quite trivial so I hope I
am addressing your actual problem.

Function loan(P As Double, r As Double, n As Double, t As Double) As
Double



loan = P * (1 + r / n) ^ (n * t)


End Function

 

[MD]

use it like this....

Function F(P, R, N, T)
F = (P * (1 + R / N)) ^ (N * T)
End Function



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