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http://www.intmath.com/Money-Math/annuity_6.gif
Above is the annuities formula (change the - to a + as i am not using it for loans) used to calculate the amount of money accumulated over a period of time with compounding interest, with a monthly input of $W.
the first part is an example of a Geometric Sequence i believe.
P(1+r)^n
I would like to find out how this formula would be altered if my input (W) was becoming greater by approx 3% p.a ?
any help is greatly appreciated!
Thanks heaps!
~James Radford-Voss
Above is the annuities formula (change the - to a + as i am not using it for loans) used to calculate the amount of money accumulated over a period of time with compounding interest, with a monthly input of $W.
the first part is an example of a Geometric Sequence i believe.
P(1+r)^n
I would like to find out how this formula would be altered if my input (W) was becoming greater by approx 3% p.a ?
any help is greatly appreciated!
Thanks heaps!
~James Radford-Voss
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