J
Jay
Let's say I have a simple table with column headings of each month and I
have a starting value of 10,000 at the beginning of the year.
I want to reduce this value by a fixed percentage each month. However,
I know I want the end result to be 8,800 after the 12 monthly
reductions, which equates to -12% over the year, but what formula can I
use to determine what the fixed monthly percentage reduction should be?
I happen to know that it's -1.0596241% (trial & error got me that far).
But what formula can be used to extrapolate this from the known variables
I need the formula to also work if I need to reduce by another
percentage over the year. For example, if I need to reduce my starting
value by -20% over the year what fixed monthly percentage does this
equate to.
If anyone could help I would greatly appreciate it.
Many thanks,
Jason
have a starting value of 10,000 at the beginning of the year.
I want to reduce this value by a fixed percentage each month. However,
I know I want the end result to be 8,800 after the 12 monthly
reductions, which equates to -12% over the year, but what formula can I
use to determine what the fixed monthly percentage reduction should be?
I happen to know that it's -1.0596241% (trial & error got me that far).
But what formula can be used to extrapolate this from the known variables
I need the formula to also work if I need to reduce by another
percentage over the year. For example, if I need to reduce my starting
value by -20% over the year what fixed monthly percentage does this
equate to.
If anyone could help I would greatly appreciate it.
Many thanks,
Jason