SimpIntCharg | R Documentation |
Computes the total interest paid at the end of n periods using simple interest
SimpIntCharg(P, n, i)
P |
numeric vector that contains the present value(s) |
n |
numeric vector that contains the period value(s) |
i |
numeric vector that contains the interest rate(s) as whole number or decimal |
Simple Interest Charged is expressed as
I = Pni
the "principal amount (lent or borrowed)"
the "simple interest"
the "interest rate per interest period"
the "number of interest periods"
SimpIntCharg numeric vector that contains the simple interest amount paid at the end of n periods rounded to 2 decimal places
Irucka Embry
Chinyere Onwubiko, An Introduction to Engineering, Mission, Kansas: Schroff Development Corporation, 1997, page 205-206.
William G. Sullivan, Elin M. Wicks, and C. Patrick Koelling, Engineering Economy, Fourteenth Edition, Upper Saddle River, New Jersey: Pearson/Prentice Hall, 2009, page 116.
library(iemisc)
# Example for equation 4-1 from the Sullivan Reference text (page 116)
# Modified example to provide the simple interest amount paid only
SimpIntCharg(P = 1000, n = 3, i = 10) # the interest rate is 10%
Add the following code to your website.
For more information on customizing the embed code, read Embedding Snippets.