I have a table with the the following columns
CustID CustName PrincipleAmount NumberOfYears DepositType
I have created a function that sets the principle rate
CREATE FUNCTION [dbo].[IntRate](@NumberofYears decimal(7,4))
DECLARE @rate decimal(7,4)
if @NumberofYears>=20 set @rate ='.15'
else if @NumberofYears >= 11 set @rate ='.125'
else if @NumberofYears>= 6 set @rate ='.10'
else if @NumberofYears>= 4 set @rate ='.075'
else if @NumberofYears>= 1 set @rate ='.05'
else set @NumberofYears = '0'
no i need to be able to calculate the final amount taking variable from both of these tables
I am unclear how to call the variable from the function
problem trying to solve:
Final Amount (A) – Takes three inputs P, N, and Deposit Type and returns the final amount using either simple interest formula or compound interest formula, depending upon the deposit type. For the calculation of R it uses the rate of interest function.
formulas: A=PNR (for simple interest)
A=P(1+r)^N (for compound interest)
so i know i need an if statement based on the deposittype
I need to know how to get started or how to call the rate from the function.