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

Guest Mar 7, 2019

edited by
Guest
Mar 7, 2019

#1**+1 **

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))

Guest Mar 7, 2019

#2**0 **

what is the total you get from the formual, so i can make sure i also have the right answer

Guest Mar 7, 2019

#4**0 **

Basically I want to know the formula of how this webiste has calculated the future value

Guest Mar 7, 2019

#5**0 **

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

#6**0 **

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**0 **

FV = A[ ((1 + r)^(n + 1) - (1 + r)) / r ]

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

ElectricPavlov
Mar 7, 2019