Function FV for non constant Payment Pmt

[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.

 

[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