Hi
I have a sum invested. Say 1000 dollars.
This sum will rise in value for 10 years with 10% per year. 1000*1.1^10. but I also want to add 100 dollars per year for 10 years and that amount will also rise in value by 10% per year.
Can someone plz help me with a complete formula for this? Thank you.
+118703 This sum will rise in value for 10 years with 10% per year. 1000*1.1^10. but I also want to add 100 dollars per year for 10 years and that amount will also rise in value by 10% per year.
Can someone plz help me with a complete formula for this? Thank you.
Well if the 100 is put in at the beginning of each year for 10 years
The the first 100 will grow to 100*1.1^10
The the first 100 will grow to 100*1.1^9
The the last 100 will grow to 100*1.1^1
The addition will be
100∗1.11+100∗1.12+.....100∗1.110=100(1.1+1.12+......+1.110)$ThisisaGPa=100∗1.1,r=1.1$sum=a(rn−1)r−1sum=100∗1.1(1.110−1)1.1−1sum=100∗1.1(1.110−1)0.1
So total after 10 years (all deposits are made at the beginning of the relevant year)
Grand Total = 1000∗1.110+100∗1.1(1.110−1)0.1
+118703 This sum will rise in value for 10 years with 10% per year. 1000*1.1^10. but I also want to add 100 dollars per year for 10 years and that amount will also rise in value by 10% per year.
Can someone plz help me with a complete formula for this? Thank you.
Well if the 100 is put in at the beginning of each year for 10 years
The the first 100 will grow to 100*1.1^10
The the first 100 will grow to 100*1.1^9
The the last 100 will grow to 100*1.1^1
The addition will be
100∗1.11+100∗1.12+.....100∗1.110=100(1.1+1.12+......+1.110)$ThisisaGPa=100∗1.1,r=1.1$sum=a(rn−1)r−1sum=100∗1.1(1.110−1)1.1−1sum=100∗1.1(1.110−1)0.1
So total after 10 years (all deposits are made at the beginning of the relevant year)
Grand Total = 1000∗1.110+100∗1.1(1.110−1)0.1
