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SimpleInterestTotal

Calculates the accrued amount that includes both principal and the interest.

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Patrick Mathers - Show more from this author Records Doctor https://recordsdoctor.com

  Function definition: (Copy & paste into FileMaker's Edit Custom Function window)

Let ( [ PeriodUnit = Case ( PeriodUnit = "Months";12; PeriodUnit = "Weeks";52; PeriodUnit = "Days";365; PeriodUnit = "Years";1; PeriodUnit = "Quarters";4 ) ] ; Round ( Principal + (Principal * ( Rate / 100 ) * ( PeriodValue / PeriodUnit) ) ; 2 ) ) Click to copy

Calculate simple interest on the principal only. Simple interest does not include the effect of compounding. Calculates the accrued amount that includes both principal and the interest. Enter the annual 'Rate' of interest as a percentage. You must choose the 'PeriodUnit' in Days, Weeks, Months, Quarters, or Years.

 

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