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future value

Time within a period when a payment is made
Controller: CodeCogs

C++

Future Value

 doublefuture_value( double rate int nper double pmt double pv PaymentPoint when )
Evaluate the future value of an investment. This is done by solving the following equations to find the value of fv :

If rate = 0,

$pv&space;+&space;pmt&space;*&space;nper&space;+&space;fv&space;=&space;0$

If rate /= 0,

$pv(1+rate)^{nper}&space;+&space;pmt[1+rate(when)]&space;\frac{(1+rate)^{nper}}{rate}&space;+&space;fv&space;=&space;0$

Where pv is the present value, rate is the interest rate, nper is the number of periods over which to calculate and pmt is the payment made each period.

Calculating the future value of an investment according to a scedule of compound interest rates is done using the following equation:

$\sum_{i=1}^{nper}&space;(pv&space;*&space;schedule[i])$

Where nper is the number of periods (and in this case entries in the shedule array), pv is the principal value and schedule is an array of compound interest rates.

References:

http://www.vni.com/products/imsl/jmsl/v30/api/com/imsl/finance/Finance.html

Example 1

#include <stdio.h>
#include <codecogs/finance/banking/future_value.h>

int main()
{
double d = Finance::Banking::future_value(0.05, 20, -30000, -30000,
Finance::Banking::pp_StartOfPeriod);
printf("30,000 set aside per year\n");
printf("5%% interest compounded yearly\n");
printf("After 20 years, the value of the investment will be: %7.2f\n\n", d);

d = Finance::Banking::future_value(0.00, 7, -50, 0, Finance::Banking::pp_StartOfPeriod);
printf("50 set aside per year\n");
printf("no interest\n");
printf("After 7 years, the value of the investment will be: %.2f\n", d);
return 0;
}
Output:
30,000 set aside per year
5% interest compounded yearly
After 20 years, the value of the investment will be: 1121176.49

50 set aside per year
no interest
After 7 years, the value of the investment will be: 350.00

pp_StartOfPeriod or pp_EndOfPeriod.

Parameters

 rate is the interest rate nper is the number of periods pmt is the amount set aside each period pv is the present value when is the point in each period when the payment is made, either

Returns

a double, the future value of the investment.

Authors

James Warren (May 2005)
Source Code

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Other Documentation

<div align="center"> <table border="0"> <tr align="center"><td width="100"><strong>Type</strong></td><td><strong>Description</strong></td></tr> <tr><td align="center" valign="top"><em>pp_EndOfPeriod</em></td><td>Each payment is made at the end of the period.</td></tr> <tr><td align="center" valign="top"><em>pp_StartOfPeriod</em></td><td>Each payment is made at the start of the period.</td></tr> </table> </div>
Source Code

Source code is available when you agree to a GP Licence or buy a Commercial Licence.

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