My excel function for an investment that tells me when (on a particular day) the investment will reach 27,400 is:
LOG((27400+1000)/1000, 1.01)
27400 = max investment
1000 = initial investment
1.01 = 1% daily increase
I need to add a 5% fee AFTER the 1% is paid out and represented the following day.
Like this:
Day 1: 1000 x 1% = 10; 10 x 5% = 0.5; 10-0.5 = 9.5 this gets added back in to the original investment
Day 2: 1009.5 x 1% = 10.095 x 5% = 0.50475; 10.095-0.50475 = 9.59025 + 1009.5 = 1019.09025
Day 3: 1019.09025 etc etc etc until investment reaches 27400.
I think this is more a deficiency of my math rather than excel, but maybe both.
Anyone know how to add a 5% fee to this equation LOG((27400+1000)/1000, 1.01) that will show me on what day# the investment will reach 27400?
Thanks!
LOG((27400+1000)/1000, 1.01)
27400 = max investment
1000 = initial investment
1.01 = 1% daily increase
I need to add a 5% fee AFTER the 1% is paid out and represented the following day.
Like this:
Day 1: 1000 x 1% = 10; 10 x 5% = 0.5; 10-0.5 = 9.5 this gets added back in to the original investment
Day 2: 1009.5 x 1% = 10.095 x 5% = 0.50475; 10.095-0.50475 = 9.59025 + 1009.5 = 1019.09025
Day 3: 1019.09025 etc etc etc until investment reaches 27400.
I think this is more a deficiency of my math rather than excel, but maybe both.
Anyone know how to add a 5% fee to this equation LOG((27400+1000)/1000, 1.01) that will show me on what day# the investment will reach 27400?
Thanks!