Recurring Deposit Calculation VBA Code

SP_Pandey, note the following corrections....

mtarler  wrote:  PendingInt = PendingInt + Maturity * (1 + R / CompoundingFactor)

Should be Maturity * R / 12.  Interest is calculated monthly.

In SP_Pandey's example, with an annual rate of 12%, the monthly rate is correctly 1% (12% / 12) when compounded quarterly, not 3% (12% / 4).

Aside....  Since that is the only use of R, you might consider calculating R as

R = CDbl(Replace(TextBox16.Value, "%", "")) / 100 / 12

in the first place, and simply using Maturity * R in the loop.

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mtarler  wrote:  IF NOT (i MOD CompoundingFactor) THEN

Should be i MOD (12 / CompoundingFactor).

For example, for semiannual compounding, CompoundingFactor is 2, but interest is compounded every 6 months (12 / 2), not every 2 months.

In fact, with these corrections, I see no purpose in having CompoundingFactor at all.

I would have CompoundingFreq, which is (every) 12, 6, 3, or 1 (months) for annual, semiannual, quarterly or monthly.

Then I would write

If i MOD CompoundingFreq = 0 Then

Aside....  This presumes that N is a multiple of CompoundingFreq.  In case it is not, you might want to add the statement

Maturity = Maturity + PendingInt

after Next for the For-loop.

Note that PendingInt = 0 when N is a multiple of CompoundingFreq.  So the added statement does not cause any problem normally.