Q. How much would I have to deposit in an account today that pays 12% interest, compounded quarterly, so that I have a balance of $100,000 in the account at the end of 10 years?
Open the Single Cash Flow screen. Select solve for Present value.
Future Value: 100000
Annual Interest Rate: 12
Time Period in Years: 10
Compounding Interval: Quarterly
Ans: $30,655.68
Q. How much to save every month so that I have a balance of $100,000 in the account at the end of 10 years, if the return on investment is 12% compounded annually?
Open the Future value of Annuity screen. Select solve for Payment Amount.
Future Value: 100000
Payment Frequency: Monthly
Payment Frequency: Monthly
Annual Interest Rate: 12
Number of payments: 120 (10 * 12)
Compounding Interval: Yearly
Payment mode: End of Period
Payment mode: End of Period
Ans: $450.59
If you don't have the app installed, you can use this online sip calculator for planning your periodic savings/ investments.
If you don't have the app installed, you can use this online sip calculator for planning your periodic savings/ investments.
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