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Results tagged with calculation
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user 7047
A generic tag to understand the calculations in a specific case. Please give out a sample illustration and ask a specific question. Ideally should also be accompanied by specific subject tags like "credit-cards", "savings-account", "index-funds" etc.
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How can I determine the interest rate, given increasing monthly deposits and a final amount?
I'm assuming that compound interest is paid monthly. In that case, the interest rate is ~0.9162% per month (i.e. an APR of 11.57%).
The following formula is the one you are interested in:
sum_{y=0} …
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