| Title: | Mathematics at DEC |
| Moderator: | RUSURE::EDP |
| Created: | Mon Feb 03 1986 |
| Last Modified: | Fri Jun 06 1997 |
| Last Successful Update: | Fri Jun 06 1997 |
| Number of topics: | 2083 |
| Total number of notes: | 14613 |
I've got an application written for a spreadsheet that I need to
convert into a program (or to run under a simpler spreadsheet). The
application uses a built-in function in the original spreadsheet to
compute the "Future Value" of a quantity. Not being an accountant,
mathematician or whatever, I don't know what this is.
Can anyone supply a formula/method for calculating this ?
Thanks,
Trevor
| T.R | Title | User | Personal Name | Date | Lines |
|---|---|---|---|---|---|
| 1779.1 | Compound interest? This might be it. | VMSDEV::HALLYB | Fish have no concept of fire | Wed Aug 11 1993 10:04 | 15 |
What's the future value of 62 dollars compounded at 3% annual interest
for 17 years?
62 * (1.03)^17 = 102.48, approximately
62 = starting amount
1.03 = unit growth factor per time period (1 grows by 3% to 1.03)
17 = number of time periods
Take care to use the same time period. If instead of 3% annually the
interest rate were 3/4% quarterly, then the formula would yield:
62 * (1.0075)^68 = 103.05, approximately
John
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