Just for fun, I am trying to create a basic savings calculator. My current code is:
value <- function(years,apr,initial,investment) {
df <- as.data.frame(matrix(nrow = years, ncol = 2))
colnames(df) <- c("year","value")
df$years <- c(1:years)
for (i in 1:years) {
current_value <-(last_value+investment)*apr
}
#repeating calculation for the data frame
print(df)
What I am trying to do is have the calculator create a table that displays the value each year. I've adapted my code from an old homework assignment, so I am not concerned with how to make the data frame. However, I do not know how to make the formula for the summation.
I am trying to model
Current Value = (Cumulative Value + Investment)*(Annual Percentage Rate)
As an example, let's say initial value is 10, investment is 10, and the APR is 1.05
(10+10)*(1.05)=21
(21+10)*(1.05)=32.55
(32.55+10)*(1.05)=44.68
and so on.
Year is there to number the rows accordingly.