Quote:
Originally Posted by qxm
lol good formulas............... a simple one >> I=Prt
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That's simple interest.
This is compounding interest:
P = C (1 + r/n) nt
where
P = future value
C = initial deposit
r = interest rate (expressed as a fraction: eg. 0.06)
n = # of times per year interest in compounded
t = number of years invested
Change "t" for each payment and then add them all up to get the sum.