>>>>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,

lol
maybe our bankers are lazier than yours :o)