I'm trying to create an application that's paying 10% interest, compounded annually, and paid on the last day of the year. The syntax I'm using is Financial.FV(rate, NPer, Pmt[, PV, Due]). "FV" stands for "Future Value". This application should calculate and display the value of the savings account at the end of 5 years, 10 years, 15 years, 20 years, 25 years, and 30 years.
My question is:
What should be my "rate", "NPer", "Pmt"and "PV"? And Also,
how can I list only the years in the list box to show 5,10,etc?
This is what I have so far.....
CODE
If isConverted Then
' calculates and display value of account
Term = Convert.ToDecimal(termListBox.SelectedItem)
For rate As Decimal = 0.1D To 0.1D
valueofaccount = _
Convert.ToDecimal(-Financial.FV(0.1, Term * 12, 0, DueDate.EndOfPeriod))
valuLabel.Text = valuLabel.Text _
& rate.ToString("P0") & " -> " & amount.ToString("c2") _
& ControlChars.NewLine
Next rate
**************************************
Private Sub MainForm_Load(ByVal sender As Object, ByVal e As System.EventArgs) Handles Me.Load
' fills the termListBox with terms 5, 10, 15, 20, 25, and 30 years
For term As Integer = 5 To 30
termListBox.Items.Add(term.ToString)
Next term
End Sub
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