CTERM Function
The CTERM function calculates the number of compounding periods required for an investment of a present value and earning a given interest rate per period to yield a specified future value.
This function has the following syntax:
CTERM(i = value, fv = value, pv = value)
This function returns:
• Float—Number of periods or term needed for the present value (pv) to increase in value to a future value (fv) at a compounding interest rate (i)
• Null—On error
Example—CTERM function:
/* Compute the number of years for a $5,000
** investment to grow to $10,000 at 8% interest with
** annual compounding.
*/
declare
intRate = Float;
futureVal = Float;
presentVal = Float;
enddeclare
begin
intRate = .08; /* 8% per year */
futureVal = 10000;
presentVal = 5000;
years = cterm(i = intRate, fv = futureVal, pv = presentVal);
end