I'm trying to create a macro that asks for a loan between 1 dollar and 5 million, and returns different interest rates based on the amount of the loan. For some reason when I type in different loan amounts it automatically makes my rate ".1", when it should be say ".08", or ".11" because of the entered loan amount.

Question

Heres my code so far:

Sub DetermineinterestIf()
Dim loan As Variant
Dim interest As Double
Do
loan = InputBox("Enter your desired loan amount, from 1 dollar to 5 million dollars.")
Loop Until IsNumeric(loan)
If loan < 1000000 Then interest = ".08"
If loan > 4000000 Then interest = ".11"
If 1000000 < loan < 4000000 Then interest = ".10"
MsgBox ("The loan amount was " & loan & " with an interest rate of " & interest & ".")
End Sub

Any ideas where I have gone wrong?

Answer 1

First off, why use strings to specify a numeric (Double) value for interest?

I learned VBA a while ago, but I think that

If 1000000 < loan < 4000000 Then interest = .10

is invalid syntax. Try

If (1000000 < loan) and (loan < 4000000) Then interest = .10

Or, you might try

interest = 0.10
If loan < 1000000 Then interest = .08
If loan > 4000000 Then interest = .11

That is, assume the interest will be .10, and only change it if the loan amount is too big or too small

Or, if you find that you have to do other stuff depending on the interest rate, you could go whole-hog and say

If loan < 1000000 Then
interest = .08
do 8% stuff
Else If loan > 4000000 Then
interest = .11
do 11% stuff
Else
interest = .10
do 10% stuff
End If