240 6 Chapter 5 General Procedures 7. Annuity Calculator If $1000 is deposited into a bank at an interest rate of 3% com pounded monthly and $100 is added to the account at the end of each month, then the balance in the account after 5 years will be $7,626.29. This type of investment is called an annuity. The initial deposit ($1000) is called the present value, final balance ($7,626.20 is called the future value, the number of periodic payments will be 60 (5.12), the interest rate per period will be .25% (= 3%/12), and the periodic payment will be $100, Repetition An annuity is described by the values of five components present value, interest rate per period, number of periodic payments, amount of each periodic payment, and the future value. The purpose of this programming project is to calculate the value of any one of the components given the values of the other four components. The five built-in Visual Basic financial functions that perform annuity calculations are as follows: PV(interest rate, number of payments, payment,-future value) gives the Rate(number of payments-payment-present value, future value) gives the NPer(interest rate,-payment-present value, future value) gives the number Pmt(interest rate, number of payments, -present value, future value) gives initial deposit interest rate per period of periodic payments the periodic payment 6.1 Do Loops 242 . Pretest Form of a Do L . A Financial Calculatic For Next Loops 257 General Form of a Fo . Local Type Inference 6.2 (interest rate, number of payments, payment, -present value) gives the future value FV 6.3 List Boxes and Loops Note Money paid into the bank by the depositor is given a negative value in the func program in which the user specifies a value to calculate, enters the four Some Properties, Me . List Boxes Populate Searching an Order tions above Write a other values, and clicks on the Calculate Value button. See Fig. 5.47 on the previous page. Before any calculations are made, the program should use a Function procedure lidate that a radio button is checked and that the values entered into the four text Summary 284 to boxes corresponding to unchecked radio buttons are valid An Interesting Numerical Algorithm Programming Proje Write a program that asks the user to enter a R 240 6 Chapter 5 General Procedures 7. Annuity Calculator If $1000 is deposited into a bank at an interest rate of 3% com pounded monthly and $100 is added to the account at the end of each month, then the balance in the account after 5 years will be $7,626.29. This type of investment is called an annuity. The initial deposit ($1000) is called the present value, final balance ($7,626.20 is called the future value, the number of periodic payments will be 60 (5.12), the interest rate per period will be .25% (= 3%/12), and the periodic payment will be $100, Repetition An annuity is described by the values of five components present value, interest rate per period, number of periodic payments, amount of each periodic payment, and the future value. The purpose of this programming project is to calculate the value of any one of the components given the values of the other four components. The five built-in Visual Basic financial functions that perform annuity calculations are as follows: PV(interest rate, number of payments, payment,-future value) gives the Rate(number of payments-payment-present value, future value) gives the NPer(interest rate,-payment-present value, future value) gives the number Pmt(interest rate, number of payments, -present value, future value) gives initial deposit interest rate per period of periodic payments the periodic payment 6.1 Do Loops 242 . Pretest Form of a Do L . A Financial Calculatic For Next Loops 257 General Form of a Fo . Local Type Inference 6.2 (interest rate, number of payments, payment, -present value) gives the future value FV 6.3 List Boxes and Loops Note Money paid into the bank by the depositor is given a negative value in the func program in which the user specifies a value to calculate, enters the four Some Properties, Me . List Boxes Populate Searching an Order tions above Write a other values, and clicks on the Calculate Value button. See Fig. 5.47 on the previous page. Before any calculations are made, the program should use a Function procedure lidate that a radio button is checked and that the values entered into the four text Summary 284 to boxes corresponding to unchecked radio buttons are valid An Interesting Numerical Algorithm Programming Proje Write a program that asks the user to enter a R