FUTURE_VAL_SCHD Function
Evaluates the future value of an initial principal taking into consideration a schedule of compound interest rates.
Usage
result = FUTURE_VAL_SCHD(principal, schedule)
Input Parameters
principal—Principal or present value.
schedule—One-dimensional array of interest rates to apply.
Returned Value
result—The future value of an initial principal after applying a schedule of compound interest rates. If no result can be computed, NaN is returned.
Input Keywords
Double—If present and nonzero, double precision is used.
Discussion
Function FUTURE_VAL_SCHD computes the future value of an initial principal after applying a schedule of compound interest rates.
It is computed using the following with count = N_ELEMENTS (schedule):
where schedulei = interest rate at the ith period.
Example
In this example, FUTURE_VAL_SCHD computes the value of a $10,000 investment after 5 years with interest rates of 5%, 5.1%, 5.2%, 5.3% and 5.4%, respectively.
principal = 10000.0
schedule = [ .050, .051, .052, .053, .054 ]
PRINT, FUTURE_VAL_SCHD(principal, schedule)
; PV-WAVE prints: 12884.8
