 Compound Interest

 Introduction
 The compound interest is the amount of money earned on a deposit during a period of time. It can be calculated using the following formula: P = Principal r = Annual (Interest) Rate m = Number of Compounding Periods per Year n = Total Number of Compounding Periods A = Amount Earned After n periods Practical Learning: Starting the Exercise
1. Start Microsoft Access and create a blank database named Compound Interest
2. On the Ribbon, click Create
3. In the Forms section, click Form Design
4. Display the Properties window. On the Properties window, set the Allow All Design Changes to Design View Only
5. Save the form as CompInterest
6. Change its properties as follows:
Caption:                Compound Interest
Record Selectors:    No
Border Style:          Dialog
7. To add the first control, while the form is selected, on the Ribbon, make sure the Use Control Wizard button is down. Click the Group Box control and click somewhere in the form
8. In the first page of the wizard, click under Label Names
9. Type Monthly and press the down arrow key. Complete the label names with Quarterly, Semiannually, and Annually
10. Click Next
11. Accept to have the default set to Monthly and click Next
12. Accept the default values and click Next
13. Accept the Option Buttons and click Next
14. Set the Caption to Compound Frequency and click Finish
15. Change the Name of the new group box control to fraFrequency
16. Design the dialog box and change the properties of the controls as follows: GroupBox: Caption: Preparation TextBox Label Caption TextBox Name Format Decimal Places Default Value Principal: txtPrincipal Currency 2 0 Interest Rate: txtInterestRate Percent 0.0825 Periods: txtPeriods General Number 0 0 GroupBox: Caption: Results TextBox Label Caption TextBox Name Format Decimal Places Default Value Interest Earned: txtInterestEarned Currency 2 0 Amount Earned: txtAmountEarned Currency 2 0
17. Implement the Click() event of the Calculate button as follows:
Option Compare Database
Option Explicit

Private Sub cmdCalculate_Click()
Dim Principal As Currency
Dim InterestRate As Double
Dim InterestEarned As Currency
Dim FutureValue As Currency
Dim RatePerPeriod As Double
Dim Periods As Integer
Dim CompoundType As Integer
Dim i As Double
Dim n As Integer

Principal = CCur(txtPrincipal)
InterestRate = CDbl(txtInterestRate)

If fraFrequency.Value = 1 Then
CompoundType = 12
ElseIf fraFrequency.Value = 2 Then
CompoundType = 4
ElseIf fraFrequency.Value = 3 Then
CompoundType = 2
Else
CompoundType = 1
End If

Periods = CInt(txtPeriods)
i = InterestRate / CompoundType
n = CompoundType * Periods
RatePerPeriod = InterestRate / Periods
FutureValue = Principal * ((1 + i) ^ n)
InterestEarned = FutureValue - Principal

txtInterestEarned = CStr(InterestEarned)
txtAmountEarned = CStr(FutureValue)
End Sub

Private Sub cmdClose_Click()
On Error GoTo Err_cmdClose_Click

DoCmd.Close

Exit_cmdClose_Click:
Exit Sub

Err_cmdClose_Click:
MsgBox Err.Description
Resume Exit_cmdClose_Click

End Sub
18. Test the form