Smart Investment

Here's a small tip I thought will be useful for us.

Are you paying a premium every year and wondering how much you should expect after x years?

I have a javascript code snippet for you to play around with...


--js code starts--

var calculateCompoundInterest = function(principal, rate, timeInYears) {
  return principal * (Math.pow((1+rate/100),timeInYears))
}

var calculateRecurringCompoundInterest = function(principal, rate, timeInYears) {
  var finalAmount=0.0;
  for(var i=0; i    finalAmount+=calculateCompoundInterest(principal,rate,i+1)
  }
  return finalAmount
}

//fixed one time premium at 5% rate of interest for 11 years
console.log(calculateCompoundInterest(100000,5,11));
 
//recurring premium at 5% rate of interest for 11 years
console.log(calculateRecurringCompoundInterest(100000,5,11));

--js code ends--