All Questions
Tagged with compound-interest savings
18
questions
0
votes
1
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How do I calculate monthly compound interest with additional monthly deposits in Google Sheets?
I'm trying to figure out how to write a formula and/or use a function to calculate the following in Google Sheets.
John deposits $1,000.00 into a savings account on Dec 31st. John also deposits $100 ...
- 167
6
votes
4
answers
589
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Financial pros and cons of having a rainy day fund in a savings account versus invested?
I used to have about 4 months of expenses in a savings account as a "rainy day fund" in case of emergencies.
The last year or so, though, I've switched to having a minimum of expenses (about ...
0
votes
1
answer
891
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How do I calculate Compound Interest with changing monthly contributions, quarterly contributions, and changing interest rate
John currently has $100 in a saving account that compounds quarterly at a .25% interest rate. When the account's balance reaches $2500 or more, the interest rate will change to .05%. I want to figure ...
5
votes
3
answers
3k
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Inflation and the current value of my dollar
I am trying to figure out the value of my $100 with a hypothetical 2% constant inflation rate after 30 years.
Here is the scenario: suppose I have $100 laying under my bed and the hypothetical ...
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7
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3
answers
4k
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How to calculate savings account interest if you deposit and withdraw irregularly?
It's easy to calculate interest on a fixed principal. If you have for example $1000 deposit on your savings account and the rate is 0.25% compounded every whatsoever and you want to know how much is ...
- 71
0
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1
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How do I calculate an average monthly income, with accurate yields, from dividend stocks paid quarterly and monthly?
I have a column that has evolved over months and I have another spreadsheet with my positions (my stocks, # of stocks, dividends payout and dividend yield). Those won't move. However, some of my ...
0
votes
1
answer
136
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How to calculate equivalent interest rate of gains with monthly contributions?
I started the year with a known amount of funds in my account and I make regular (assume equal) monthly payments into the account.
I know how much my gain/interest for the year is. I believe the ...
- 747
0
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2
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2k
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Help with a homework question calculating interest
Question :
Imagine that you deposit $6,000 a year, starting one year from today, for four years into a savings account paying 6% per annum. (That is one deposit of $6,000 per year.) How much money ...
2
votes
2
answers
313
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How much do I need to save per month in an interest-bearing account to reach a certain account balance in a certain number of years?
How do I calculate what my monthly contribution should be to an interest bearing account, knowing how much I'll need to have in the account in a given number of years?
For Example,
I need $8,203.03 ...
- 21
3
votes
2
answers
2k
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interest compounded daily vs monthly
I want to compare two saving accounts with same APY, but one has interest "compounded daily and credited monthly" and the other has interest "compounded monthly and credited monthly". Which will yield ...
- 131
166
votes
24
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59k
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Why do people save so much?
When I am old and retired (70 years +), I don't plan to spend a lot of money. I'll be living in my own house that is already paid off at that point, so no rent or mortgage payments. Since I don't need ...
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1
vote
2
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162
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What would be my total saving with an increasing and regular yearly deposit after 30 years?
Let's say I deposit $50,000 into the bank and in the first year I put in an installment of 5,000 and the interest is calculated monthly at 7%. In the second year, all is the same except for my yearly ...
- 13
2
votes
1
answer
224
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Investing and compound interest? [duplicate]
I see lot of information about the power of compound interest and how it can help money grow. I understand the mathematics of compound interest but I have no idea how to take some money and make it ...
- 147
19
votes
2
answers
74k
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How do I calculate monthly compound interest in Google Sheets?
I have a financial spreadsheet with a column of all my deposits into my savings account. The leftmost column lists the dates of the deposits. Now, let's say my savings balance is $100.00 and my ...
- 301
4
votes
1
answer
402
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Future value of a compound-interest savings account when contributions are inflation linked
I've got a savings objective to achieve in 6 years and I'm trying to work out the percentage of salary I need to put towards it to achieve it.
I am trying to work out how to calculate the future ...
- 145