>Maybe. For example, if I invest $1000 at .08 percent, I get $1080.00
>
>Is this formula correct?
>
>

>CLEAR
>
>LOCAL nAmount, nPercent, nTotalMonths, nEarning, nTotVal
>
>nAmount      = 1000
>nPercent     = .08
>nTotalMonths = 12
>nEarning     = 0
>nTotVal      = 0
>
>FOR nMonth = 1 TO nTotalMonths
>
>  nEarning = nAmount * nPercent
>  nTotVal = nAmount + nEarning
>
>ENDFOR
>
>? nTotVal
>

>
>Correct?
>
>
Not quite, assuming your interest is compounded monthly your value after 12 months would be about $1,083.

Regards,