# Thread: Can anyone do this calculation for me?

1. ## Can anyone do this calculation for me?

I would like to know the net sum over 50 years in principal and interest when the principal begins in year one at \$3000, and \$3000 is added annually, at an interest rate of 3% compounded annually.

I don't know how to do compounded interest when the additional principal amounts are added annually.

This is as far as I got on the interest:
In simple terms, just the interest over 50 years on the initial \$3000 in the first year calculates to \$10,152.... \$9,769 is the amount of net interest over the subsequent 49 years on the \$3000 in year two. The comparable figure at year 25 is \$6281.  Reply With Quote

2. Originally Posted by Random I would like to know the net sum over 50 years in principal and interest when the principal begins in year one at \$3000, and \$3000 is added annually, at an interest rate of 3% compounded annually.

I don't know how to do compounded interest when the additional principal amounts are added annually.

This is as far as I got on the interest:
In simple terms, just the interest over 50 years on the initial \$3000 in the first year calculates to \$10,152.... \$9,769 is the amount of net interest over the subsequent 49 years on the \$3000 in year two. The comparable figure at year 25 is \$6281.
At year 50, the accumulated value is \$348,542.30, with \$150,000 in principal contributions along the way and \$198,542.30 in accumulated interest.  Reply With Quote

3. Thank you!  Reply With Quote

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