>>>Ok, here's my code. It is close to what I found here
>>>http://www.moneychimp.com/articles/finworks/fmbasinv.htm
>>>
>>>but not exact. Not sure where I'm off
>>>
>>>

>>>CLEAR
>>>
>>>LOCAL nAmount, nRate, nTotalPeriods, nEarning, nTotVal
>>>
>>>nAmount 	= 7669.04
>>>nRate 		= .08 / 12
>>>nPeriods		= 12 * 10  && 10 years
>>>
>>>? "Investment Amount: " + ALLTRIM(TRANSFORM(nAmount, "@R $$$,$$$,$$$.99"))
>>>? "Interest Rate:     " + TRANSFORM(nRate, "@R .99")
>>>? "Periods:            " + TRANSFORM(nPeriods)
>>>?
>>>?
>>>
>>>? "Period         Amount         Earned"
>>>? "-------------------------------------"
>>>
>>>FOR nPeriod = 1 TO nPeriods
>>>
H>>>	nEarning = nAmount * nRate
>>>	nAmount = nAmount + nEarning
>>>
>>>	? PADL(nPeriod , 5, " "), TRANSFORM(nAmount, "@R $$$,$$$,$$$.99"), TRANSFORM(nEarning, "@R $$$,$$$,$$$.99")
>>>
>>>ENDFOR
>>>
>>>?
>>>? "Value of investment: " + ALLTRIM(TRANSFORM(nAmount, "@R $$$,$$$,$$$.99"))
>>>

>>
>>Yes, that should be reasonably accurate for interest compounded monthly. An alternative calculation would be using days in month / days in year * annual rate to get the monthly rate. This would give slightly different results.
>>
>>Regards,
>
>If I am not mistaken all banks use 30 days for a month and 300 days for year for their calculations, so monthly rate must me 1/10th of the anual one.

Hi Borislav,

20 years ago that was not the case in the U.S. and I have not heard that it has been changed. Perhaps we have a banker here who can chime in?

Regards,