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How to calculate the remaining balance at the end of each year (please provide one example with an exact calculation)? The growth is 3%, the
How to calculate the remaining balance at the end of each year (please provide one example with an exact calculation)?
The growth is 3%, the interest rate is 6% and the first payment is 100$
|
Year | Payout | Remaining balance |
0 | 0 | 1456.15 |
1 | 100.00 | |
2 | 103.00 | |
3 | 106.09 | |
4 | 109.27 | |
5 | 112.55 | |
6 | 115.93 | |
7 | 119.41 | |
8 | 122.99 | |
9 | 126.68 | |
10 | 130.48 | |
11 | 134.39 | |
12 | 138.42 | |
13 | 142.58 | |
14 | 146.85 | |
15 | 151.26 | |
16 | 155.80 | |
17 | 160.47 | |
18 | 165.28 | |
19 | 170.24 | |
20 | 175.35 |
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