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I need to work out a formula for a investment calculator on my website but can't seem to figure it A customer will pay a monthly amount every month for a certain term in years getting 9% profit each year. What is the best way to work this out. 

 

Example

 

£50 per month for 10 years getting 9% increase each year

 Mar 7, 2019
edited by Guest  Mar 7, 2019
 #1
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FV = Pmt x (((1 + r) ^ n) – 1)/r)        FV = future value      Pmt = monthly deposit      r = MONTHLY interest     n = number of months

FV = 50 x (((1 + .09/12)^n- 1/(.09/12))  

 Mar 7, 2019
 #2
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what is the total you get from the formual, so i can make sure i also have the right answer

Guest Mar 7, 2019
 #3
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The total is dependent on the number of months.......

ElectricPavlov  Mar 7, 2019
 #4
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Basically I want to know the formula of how this webiste has calculated the future value

Guest Mar 7, 2019
 #5
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THAT is a different story than in your original question........    your latest examplehass only one deposit each year at the beginning of the year.....your first question has monthly deposits....

ElectricPavlov  Mar 7, 2019
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My apolohies. maths was never my strength, the image that i sent, is the formula that i require if you can be so helpful

Guest Mar 7, 2019
 #7
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FV =  A[ ((1 + r)^(n + 1) - (1 + r)) / r ]

 

A = 588     r = .09    n = number of years      FV = Future value

ElectricPavlov  Mar 7, 2019
 #8
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You are a god send, i thank you from the bottom of my heart 

Guest Mar 7, 2019
 #9
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Sorry to be a nuisance but what would be the formula be for this please. 

Guest Mar 7, 2019
 #10
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Sorry to be a nuisance but what would be the formula be for this please. In year 1 you can see there is a one off figure of 714 which changes year 1 total.

Guest Mar 8, 2019

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