Reverse Percentage calculation

[Scruffy77]

Hello all,
This is more of a math issue, but thought this would be the best place to start.

I want to be able to figure out what the percentage value would be if I want to incease $17.65 to $21.91 using mutiple step progressions.

For Example, between 17.65 and 21.91
I want to apply an X% onto 17.65 on June 1 to create a new amount, then want to apply another X% on Oct 1 to the new amount, to get a ANOTHER new amount,
The goal being the final NEW AMOUNT will be 21.91 as of a certain date.
Anyone know how to figure out the multiple percentages?

Any assistance would be greatly appreciated.
Thanks!

 

[Juan Pablo González]

I guess it depends on how often you are compounding your interest, but just based on how you stated your problem, I'd say is this:

FinalAmount = InitialAmount * ( 1 + Interest ) ^ n

where 'n' is the number of times that you have applied the interest. You can then solve for 'Interest'.

 

[Jay Petrulis]

Try

(End Value / Beg Value)^(1/num of periods) - 1

to get your percentage. Specific adjustments can be made if required (simple interest, annual rate, differing compounding, etc.)

 

[Scruffy77]

Thanks for the info, I tried Jay's and it works perfectly


S you know, the values are houly wage rates
My company want's to get an employee wage to $21.91 over X amount of percentage increases over a year (FROM $17.65) and I need to present my bosses with a couple of options and this will help greatly!!!

Thanks to you both!!