BrooksTech
Board Regular
- Joined
- May 9, 2011
- Messages
- 59
I need to make a calculation similar to that styled for mortgages with one exception, I need to add in $50k every year in addition to about 15% annual interest, the principal starting at $50k. None of the free online calculators do this plus I need to specify a different number of years than the fixed 30 years. I was hoping also to avoid having to have a huge array of 50k amounts to compound. Id like to simply change the annual interest rate, annual fixed-lump sum, and number of years.
Is there a simple formula, perhaps I could even do on a hand calculator(e.g. Cosine function) that will do this for me with the special yearly add in amount? If not, referral to any special websites that would otherwise address this would be much appreciated.
Is there a simple formula, perhaps I could even do on a hand calculator(e.g. Cosine function) that will do this for me with the special yearly add in amount? If not, referral to any special websites that would otherwise address this would be much appreciated.
