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The power of regular savings
(This is a premium feature)
In this example, we deposit $100 monthly into an account that bears interest at 7% annually. Interest is compounded monthly. After 10 years, we withdraw all the funds, which total $17,308.
Store:
Interest .07 / 12 = .00583
PV 0
Pmt -100
N 10 * 12 = 120
Calculate
FV 17,308
By changing the years to 20, the balance would have grown to $52,092.
Notice that we use a minus sign for payment because that is cash going out (to a bank account).
With the current release of ActiCalc, all financial calculations assume payments are applied and interest calculated at the end of the period.
See more examples.