javascript - How to add a recurring Interest rate onto a recurring and growing amount -
i trying add given percentage onto number repeatedly on few months has percentage added on previous month.
i.e, user defines 25% (this not set number of percent) add 25% onto amount invested start with, example:
customer invests £10,000, add 25% onto £10,000, equals £12,500. and then following month add 25% onto £12,500 month before, should equal £15,625.
it should case of simple maths, yet cannot figure out using javascript. keep getting value of £15,000, , cannot work out how store given percentage in variable , add percentage onto total amount.
here code.
// set values... num = prompt("enter percentage using decimal number..."); interestrate = num*100; startcash = 10000; total = startcash*interestrate/100+startcash; month = 1; // inputting text... starttext = "starting money: £"; inttext = "interest earned: "; totaltext = "total amount: £"; monthtext = "month: "; displaystart = starttext + startcash + "\n"; dispint = inttext + interestrate + "\n"; disptotal = totaltext + total + "\n"; dispmonth = monthtext + month + "\n"; dispvalue = displaystart + dispint + disptotal + dispmonth; console.log (dispvalue); addint = total + interestrate*100; console.log (addint);
you try approach this:
var interestrate = .25; var startcash = 10000; var total=startcash; for(var monthcount=1; monthcount<13;monthcount++){ //this line takes previous value of total , gets percentage of interest //it re-assigned same variable total += total*interestrate; console.log('month :', monthcount); console.log('total :', total); }
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