CODEWITHSUNDEEP
javascriptcalculator
3loY
3loY

Reputation: 19

JavaScript Deposit Interest Calculator

Have a basic javascript interest calculator, that I need to modify.

Now it calculate only first deposit, trying to add regular (every year) deposit. But have no idea how to do it correct :(

The basic code is working fine: https://jsfiddle.net/zpv24m1e/6/

function calc() {
  var princ = 1000; // start deposit
  var add   = 500; // yearly deposit (need plus it every year)
  var rate  = 0.0225;
  var years = 10;

  var power  = Math.pow((1 + rate), years);
  var summ   = Math.round(princ * power * 100) / 100;
  var profit = Math.round((summ - princ) * 100) / 100;
  $("#demo").html("Total: "+summ+" Profit: "+profit);
}

Upvotes: 1

Views: 1803

Answers (1)

Samvel Petrosov
Samvel Petrosov

Reputation: 7706

You can calculated it in the following way:

function calc() {
  var princ = 1000; // start deposit
  var totalDeposit = princ;
  var add   = 500; // yearly deposit (need plus it every year)
  var rate  = 0.0225;
  var years = 10;
  for(var i=0;i<years;i++)
  {
    if(i!=0)
    {
        princ += 500;
        totalDeposit +=500;
    }
    princ += princ * rate;
  }
  $("#demo").html("Total: "+princ.toFixed(2)+" Profit: "+(princ-totalDeposit).toFixed(2));
}

This is the case when you add regular every year except the first year.

Upvotes: 2

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