pastel latch
Hello everyone,
My problem is a financial mathematics problem.
I’m trying to find a general formula for what I wrote in the picture.
It is a geometric progression sequence with a common ratio that increases by 5% every year.
Basically, you invest an amount of 15 000 every year, with an interest rate that increases every year.
My English is probably too bad to explain correctly, so I did it in Excel with n = 12 years to show you how it looks like if you do everything by hand.
The final result should be the sum of all final amounts, which is in bold (228,015)
NB : I’m French, that’s why decimal separators are commas instead of points
gusty mirage