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Thread: Can anyone do this calculation for me?

  1. #1
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    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.

  2. #2
    Quote Originally Posted by Random View Post
    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.

  3. #3
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    Thank you!

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