Calculate interest for periodic balance using given rates and initial balance.

Interest for Periodic Balance

Purpose

The "Interest for Periodic Balance" function calculates the interest accrued on a given balance over a period of time based on the specified interest rates.

Use Cases

• Calculating interest earned on savings accounts
• Calculating interest charged on credit card balances

How to Use

1. Enter the required input values as described below.
2. Click on the "Calculate" button to get the result.

Input Values

1. Initial Balance: The starting balance amount.
2. Debit Interest Rate: The interest rate for debits (e.g., on loans).
3. Credit Interest Rate: The interest rate for credits (e.g., on savings).
4. Date Format: The format in which dates are displayed (default format is "%d-%b-%y").

Output Values

1. Interest Amount: The total interest accrued on the balance.

Any other Instruction

• Make sure to enter the input values accurately to get the correct result.

Calculation Steps

1. Retrieve the data table from the CSV file.
2. Calculate the periodic interest based on the initial balance, debit interest rate, credit interest rate, and date format.
3. Return the calculated interest amount.

Technical Parameters

csv_file, initial_balance, debit_interest_rate, credit_interest_rate, date_format

Return Values

Interest Amount

Example Expressions

You can use the following expressions to directly evaluate in a non-interactive manner using eva():

ipbal(csv_file=data.csv, initial_balance=5000, debit_interest_rate=5.5, credit_interest_rate=8.0, date_format="%m-%d-%y")
ipbal(csv_file=data.csv, initial_balance=10000, debit_interest_rate=7.0, credit_interest_rate=12.0, date_format="%Y-%m-%d")

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