Savings Account

1.   Start a new project.  The idea of this project is to determine how much you save by making monthly deposits into a savings account.  For those interested, the mathematical formula used is:

F = D [ (1 + I)M - 1] / I

where

                                          F - Final amount

                                          D - Monthly deposit amount

                                          I - Monthly interest rate

                                          M - Number of months

      

2.  Place 4 label boxes, 4 text boxes, and 2 command buttons on the form.  It should look       something like this:

      

3.   Set the properties of the form and each object.

Form1:

      BorderStyle               1-Fixed Single

      Caption                      Savings Account

      Name                         frmSavings

Label1:

                Caption                      Monthly Deposit

Label2:

                 Caption                      Yearly Interest

Label3:

                 Caption                      Number of Months

Label4:

                 Caption                      Final Balance

Text1:

                 Text                             [Blank]

                 Name                         txtDeposit

Text2:

                Text                             [Blank]

                Name                         txtInterest

Text3:

               Text                             [Blank]

               Name                         txtMonths

Text4:

               Text                             [Blank]

               Name                         txtFinal

Command1:

                         Caption                      &Calculate

                          Name                         cmdCalculate

Command2:

                         Caption                      E&xit

                         Name                         cmdExit

Now, your form should look like this:

4.   Declare four variables in the general declarations area of your form.  This makes them available to all the form procedures:

     

      Option Explicit

      Dim Deposit As Single

      Dim Interest As Single

      Dim Months As Single

      Dim Final As Single

     

      The Option Explicit statement forces us to declare all variables.

     

5.   Attach code to the cmdCalculate command button Click event.

     

      Private Sub cmdCalculate_Click ()

      Dim IntRate As Single

      ‘Read values from text boxes

      Deposit = Val(txtDeposit.Text)

      Interest = Val(txtInterest.Text)

      IntRate = Interest / 12.00

      Months = Val(txtMonths.Text)

      ‘Compute final value and put in text box

      Final = Deposit * ((1 + IntRate) ^ Months - 1) / IntRate

      txtFinal.Text = Format(Final, "#####0.00")

      End Sub

This code reads the three input values (monthly deposit, interest rate, number of months) from the text boxes, computes the final balance using the provided formula, and puts that result in a text box.

6.   Attach code to the cmdExit command button Click event.

     

      Private Sub cmdExit_Click ()

      End

      End Sub

     

7.   Play with the program.  Make sure it works properly.  Save the project.

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