Calculating an inflation rate

dtwiddy

New Member
Joined
Apr 5, 2017
Messages
8
I'm wondering if there is a way to use a formula to calculate the inflation rate needed here instead of using Goal Seek every time.

As an example, I will make a payment in month one of $1,500. I want to increase my payment each month, compoundedly, so that I have a total amount at the end of the year of $25,000. I can use Goal Seek to find out that I would have to increase each payment by 5.7922% but would really like to have it update the interest rate if I changed the initial payment OR the ending balance. I'm not sure if this is possible because the formula would have to work forward and backward. I want to specify the initial payment and the ending balance, then ask for the necessary increase of payments throughout the year. Any suggestions?

Cell Formulas
RangeFormula
S14S14=R14
R15R15=S14*($T$14+1)
S15:S25S15=S14+R15
R16:R25R16=R15*($T$14+1)
 

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