Function FV for non constant Payment Pmt


L

Lee Mun Kok

FV is future value for constant payments and constant
interest rate.

I need the Function FV to calculate future value for non
constant (increase in a fixed rate every year) payments
with a constant interest rate. Example is to calculate
the Employee Provident Fund (EPF) where their income
increase 5% per annum and the EPF Board pay them 5%
interest per annum.

Thanks a lot if anyone can help me.

Lee.
 
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R

Ron Rosenfeld

FV is future value for constant payments and constant
interest rate.

I need the Function FV to calculate future value for non
constant (increase in a fixed rate every year) payments
with a constant interest rate. Example is to calculate
the Employee Provident Fund (EPF) where their income
increase 5% per annum and the EPF Board pay them 5%
interest per annum.

Thanks a lot if anyone can help me.

Lee.

Someone will likely come up with a formula, but a quick and dirty way would be
to set up a table, where each row has a years income, interest payment and a
beginning of year and end of year balance.


--ron
 

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