POWER
The POWER function returns the result of a number raised to a power.
Syntax
POW(value, power) - > number
Arguments
| Arguments | Datatype | Description |
|---|---|---|
value | Number, Node reference | The base number, it can be any real number or node. |
power | Number | The exponent to which the value is raised. |
Example
Consider a below example with $16,000 loan at an annual rate of 5% that is to be paid off in 6 years. Calculate Compound Interest.
| Items | Values |
|---|---|
Principal | 16000 |
Rate | 0.05 |
Time | 6 |
Monthly Compound | 12 |
To calculate the Compound Interest, the formula should be written in the [Compound Interest] node.
[Principal](POWER(1+([Rate]/[Monthly Compound]),([Time]*[Monthly Compound])))
Result
Compound Interest | 21584.28391 |
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